Trump Orders DOJ Investigation Into Gasoline Price Gouging
On June 24, 2026, U.S. President Donald Trump directed the Department of Justice to investigate major oil companies for alleged gasoline price gouging. Trump claims that while crude oil prices have fallen sharply—due to a U.S.-Iran peace deal and reopening of the Strait of Hormuz—retail gasoline prices have not dropped proportionally, frustrating consumers. The national average gas price is around $3.90 per gallon, down from peaks but still above pre-war levels. The probe could lead to regulatory or legal action against oil firms, and comes amid political pressures ahead of midterm elections.
Cross-source coverage
Wire timeline
Trump demands gas retailers lower prices immediately as oil drops to $68
President Donald Trump on Monday publicly demanded that gasoline retailers immediately reduce their prices, citing that crude oil prices have fallen to around $68 per barrel while consumer gas prices remain significantly elevated. In a post on his Truth Social platform, Trump wrote, 'Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a...' The statement comes amid the ongoing U.S.-Israeli military conflict with Iran that began in February, which has contributed to volatile energy markets. While some gasoline prices have recently decreased, overall prices at the pump remain high relative to the drop in crude oil costs. This marks another instance of Trump using direct social media pressure on private sector actors to influence consumer pricing, a tactic he employed during his previous term regarding fuel and pharmaceutical costs.
Just In NewsTrump Scolds Gas Stations, Demands Immediate Price Cuts as Oil Falls to $68
President Donald Trump has publicly pressured gasoline retailers to lower pump prices immediately, citing that crude oil has dropped to $68 per barrel. In a social media post, he demanded retailers drop prices to around $2.50 per gallon and warned of "big problems" if they do not comply, while also blaming California for high state taxes. The national average for regular gasoline currently stands at $3.86, down from $4.39 a month ago but still higher than $3.19 a year ago. Trump also claimed price gouging is illegal and previously ordered an investigation into major oil companies including Exxon, Chevron, Shell, and BP. The article notes that falling crude prices are partly due to renewed hopes for a diplomatic resolution between the U.S., Israel, and Iran, which is keeping a lid on oil prices.
OilPrice.com Daily News UpdateTrump Turns on Big Oil Donors, Demands DOJ Probe for Price Gouging
President Donald Trump has publicly turned against major oil companies that donated nearly $100 million to his 2024 campaign, accusing them of price gouging as gas prices remain high despite falling crude oil prices. In a Truth Social post, Trump claimed customers are being 'gouged' and instructed the Justice Department to investigate Chevron, ExxonMobil, BP, and Shell. The move comes ahead of midterm elections, with high gas prices becoming a political liability for Republicans. Industry executives argue that gas price adjustments take time due to lag effects and other costs. This marks a sharp reversal from Trump's close courting of the oil industry during his campaign, where he promised environmental rollbacks and tax breaks. A Shell spokesperson declined to comment, while Chevron's CFO said the industry is 'doing everything we can' to lower prices.
Fortune | FORTUNETrump turns on Big Oil donors, calls for DOJ investigation into price gouging
President Donald Trump has turned against major oil and gas companies that spent nearly $100 million to help elect him in 2024, now calling for the Justice Department to investigate them for alleged price gouging. In a Truth Social post on June 25, 2026, Trump accused oil companies of failing to lower gasoline prices despite falling crude oil costs, explicitly naming Chevron, ExxonMobil, BP, and Shell. The conflict in the Middle East and resulting energy shock have kept U.S. gas prices elevated at an average of $3.91 per gallon, up from $3.22 a year ago. With midterm elections approaching and Republicans holding slim majorities, high fuel costs pose a political risk. A Justice Department spokesperson acknowledged the challenge but declined to comment on investigations. The shift marks a dramatic reversal from the close campaign relationship between Trump and the fossil fuel industry, which had celebrated his environmental rollbacks and tax policies.
Yahoo FinanceTrump Accuses Exxon, Chevron, Shell, and BP of Price-Gouging at the Pump
U.S. President Donald Trump has explicitly named Exxon, Chevron, Shell, and BP as companies he blames for excessively high fuel prices, following the announcement of a federal Department of Justice probe into potential price-gouging. Trump argued on TruthSocial and in media remarks that while crude oil prices have dropped sharply, retail gasoline prices have not fallen commensurately, claiming the national average should be around $2.25 per gallon. Current AAA data shows the average at $3.928, down from $4.025 a week ago but still well above a year ago. The American Petroleum Institute responded by noting that retail fuel prices do not move in lockstep with crude oil, while a White House spokesperson suggested that high prices are a short-term disruption linked to the Iran situation and that prices will fall once it is resolved. The article also notes diesel dipping below $5 per gallon for the first time in weeks, offering relief to industrial consumers.
OilPrice.com Daily News UpdateTrump Calls for DOJ Investigation Into Oil Companies Over Price Gouging at the Pump
President Trump has called for a Department of Justice investigation into oil companies, alleging price gouging at the pump. The complaint is based on a gap where crude oil prices have fallen over 20% from a May peak, while retail gasoline prices have dropped only about 14%, with the national average at $3.90 per gallon. Consumer gasoline spending reached $531.4 billion in April 2026. The article explains that the price gap may be due to normal inventory lag, as refiners are still processing expensive crude purchased during the spring closure of the Strait of Hormuz. It notes that DOJ antitrust energy cases typically take years and rarely result in consumer refunds. The analysis breaks down gasoline pricing components—crude oil, refining margin, distribution, and taxes—to contextualize the dispute.
Yahoo FinanceTrump Orders DOJ to Investigate Oil Companies Over High Gas Prices After Strait of Hormuz Blockade Ends
Former President Donald Trump, in a Truth Social post, announced he has directed the Department of Justice to investigate major oil companies for alleged price gouging, citing a discrepancy between falling crude oil prices and slower declines at the pump. The US recently lifted its naval blockade of the Strait of Hormuz after a tentative peace deal with Iran, but gas prices remain high. Data shows crude oil dropped 5% from June 18-24 while gas fell only 2.5%; over the last month, crude fell 27% versus 13% for gas. Trump had promised prices would plummet 'like a rock' post-war, but the national average of $3.92/gal remains well above the pre-war promise of $2.98. The issue poses political risks for vulnerable Republican congressional allies as elections approach.
The New RepublicTrump Orders Justice Department Investigation into Gas Price Gouging
President Trump announced early Wednesday that he has ordered the Justice Department to immediately launch an investigation into alleged gas price gouging at the pump, citing economic pressures from the ongoing Iran war. Trump accused major oil companies of failing to reduce retail gasoline prices in line with the sharply lower crude oil costs. The directive aims to address consumer frustrations as fuel prices remain high despite falling wholesale costs. The investigation is expected to examine pricing practices by large oil firms, potentially leading to legal action if gouging is found. The move comes amid broader economic strains linked to the conflict with Iran, with the administration seeking to alleviate public burden.
Just In NewsTrump directs DOJ to investigate oil companies over gasoline price gouging
U.S. President Donald Trump announced on June 24, 2026, that he has instructed the Department of Justice to investigate oil companies for failing to lower gasoline prices proportionally to falling crude oil costs. In a social media post, Trump accused the companies of 'gouging' customers, noting that while crude prices have dropped 23% over the same period and 40% from March peaks, gasoline prices have only fallen 14% from their May peak. The average U.S. gasoline price stood at $3.906 per gallon, down from $2.764 in January before the Iran conflict began. Trump's directive comes amid consumer frustration over high fuel costs, just as Republicans face difficult midterm elections in November. The decline in crude prices is attributed to an interim peace deal between the U.S. and Iran and the reopening of the Strait of Hormuz. The White House and DOJ did not immediately comment.
The Hindu: Latest News today from India and the World, Breaking news, Top Headlines and Trending News Videos.Trump Orders Justice Department Investigation Into Gasoline Price Gouging
President Trump has ordered the U.S. Department of Justice to investigate potential price gouging at fuel stations, alleging that oil companies are not lowering pump prices as fast as crude oil costs have fallen. In a social media post, Trump stated that crude prices are 'dropping like a rock' while retail gasoline declines lag. The announcement comes as U.S. gasoline prices have fallen for six consecutive weeks, with the national average dropping to $3.85 per gallon. The decline is linked to falling crude oil benchmarks—Brent at $76.46 and WTI at $72.61—driven by optimism over U.S.-Iran diplomatic efforts and a recovery in tanker traffic through the Strait of Hormuz. Analysts note that while vessel crossings have increased, they remain below pre-war levels. The investigation signals potential regulatory action against major oil companies.
OilPrice.com Daily News Update