fort drum in action:
Gas prices just became a DOJ issue.
President Donald Trump says he has instructed the Department of Justice to “immediately” look into major oil companies, accusing them of not lowering prices at the pump fast enough as wholesale oil prices fall.
In a late-night Truth Social post, Trump wrote that “the big Oil Companies” are not dropping gas prices in line with the lower prices they are paying for oil, adding that customers are being “gouged.” Speaking later at the White House, he named companies including Chevron, ExxonMobil, Shell and BP, and said he believes gasoline should be closer to $2.25 a gallon.
The national average for regular gas was around $3.90 to $3.92 this week, down from roughly $4.50 a month ago, according to AAA and GasBuddy data cited in reports. But prices are still higher than the roughly $3.22 average from a year earlier
Oil markets have been shifting as U.S.-Iran peace talks continue and movement resumes through the Strait of Hormuz, a key waterway where about one-fifth of the world’s oil supply normally passes. Crude prices have eased from recent highs, with U.S. oil trading around the low $70s per barrel and Brent crude falling back near the mid-$70s.
The American Petroleum Institute pushed back on the idea that pump prices should instantly match crude oil declines, saying gas prices “don’t move in lockstep with crude oil,” especially when supply, refining and inventories are still being affected by global disruption.
A DOJ spokesperson said fuel prices affect both national security and Americans’ wallets, adding that the department is committed to affordability. No further details on the investigation have been released.
investagate now
With crude prices falling but gas still expensive, do you think the DOJ should investigate oil companies, or are pump prices just slower to catch up?
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