Trump says he ordered DOJ to probe gas price 'gouging'
Key takeaways
- The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil, the president wrote on Truth Social.
- In other words, customers are being gouged, he continued.
- The president s approval rating has taken a hit amid the conflict as the effective closure of the Strait of Hormuz, a major trading channel, resulted in global fuel shortages.
Why this matters: political developments that affect policy direction and public trust.
The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil, the president wrote on Truth Social. Those prices are dropping like a rock!
In other words, customers are being gouged, he continued. I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I m seeing!
The president s approval rating has taken a hit amid the conflict as the effective closure of the Strait of Hormuz, a major trading channel, resulted in global fuel shortages. These strains have hiked up domestic gas prices, sending average costs over $4 a gallon at the end of March.