President Trump publicly went after four of the world’s largest oil companies on June 24, accusing ExxonMobil, Chevron, Shell, and BP of gouging American consumers at the pump. His message was blunt: crude oil prices have dropped significantly, and gas stations should reflect that.
Trump ordered the Department of Justice to investigate whether these companies are deliberately keeping gasoline prices artificially high. He stated that gas should be around $2.25 per gallon. The national average, as of June 24-25, was $3.93.
The math that triggered the confrontation
US crude oil prices have reportedly fallen 36% since May. Gasoline prices have not fallen anywhere close to proportionally, and Trump is framing the gap as evidence of corporate greed rather than supply chain mechanics.
The difference between $2.25 and $3.93 is $1.68 per gallon.
