U.S. President Donald Trump has launched a Justice Department probe into major oil companies, accusing them of failing to pass lower crude oil prices on to American consumers. Despite a sharp decline in global oil prices following the Iran peace breakthrough, Trump argues that gasoline prices at the pump remain too high. The White House is increasingly focused on fuel costs as political pressure mounts ahead of the midterm elections. While gas prices have fallen for six consecutive weeks, they remain well above January levels. The dispute highlights growing tensions between Washington and Big Oil over profits, inflation and voter frustration.
Trump turns on big oil after Iran’s 36 million barrel win; launches probe over pump price ‘gouging’
U.S. President Donald Trump has launched a Justice Department probe into major oil companies, accusing them of failing to pass lower crude oil prices on to American consumers. Despite a sharp decline in global oil prices following the Iran peace breakthrough, Trump argues that gasoline prices at the pump remain too high. The White House is increasingly focused on fuel costs as political pressure mounts ahead of the midterm elections. While gas prices have fallen for six consecutive weeks, they remain well above January levels. The dispute highlights growing tensions between Washington and Big Oil over profits, inflation and voter frustration.
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