President Donald Trump is urging gasoline retailers across the country to lower prices at the pump, arguing that recent declines in crude oil prices should be passed along to American consumers without delay.
In a Truth Social post on Monday, Trump said retail gasoline prices remain too high given the current price of oil, warning that companies should act quickly or face scrutiny over potential price gouging.
“Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south,” Trump wrote.
The president called on retailers to reduce prices to what he described as a fair level, while also criticizing California’s fuel taxes.
“The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!” Trump wrote. “There will be no gouging, which is totally illegal. If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number, and California should stop charging such heavy Taxes on their Gasoline.”
Trump also argued that California’s tax burden has become excessive, claiming fuel taxes are approaching the cost of gasoline itself and accusing state leaders of placing unnecessary financial pressure on residents.
His latest comments follow remarks he made last week highlighting a sharp decline in gasoline prices after tensions with Iran eased. During that appearance, Trump said the national average price of gasoline had fallen by approximately 60 cents per gallon in a relatively short period.
“The average price of gasoline nationwide is down 60 cents a gallon, just from a short while ago,” Trump said. “We had to make this detour, we had to go to Iran. You can’t let them blow up the Middle East, and then us, if that’s possible.”
Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE! There… pic.twitter.com/3WyTOsYLGi
— Commentary Donald J. Trump Truth Social Posts On X (@TrumpTruthOnX) June 29, 2026
The earlier conflict had raised concerns throughout global energy markets after shipping through the Strait of Hormuz was disrupted. The narrow waterway is one of the world’s most important oil transit routes, with roughly one-fifth of global petroleum supplies passing through it. Fears of prolonged disruptions initially pushed oil prices higher before the waterway reopened and markets stabilized.
Despite those concerns, economic data suggested American consumers continued spending even as fuel prices temporarily increased.
Writing for Breitbart News, economics editor John Carney argued that the U.S. economy remained resilient throughout the period of elevated energy prices. Rather than sharply reducing purchases in other sectors to compensate for higher gasoline costs, consumers continued increasing overall spending.
According to Carney, nominal consumer spending rose 0.7 percent in May after increasing 0.4 percent in April, while inflation-adjusted spending also posted gains after remaining flat the previous month. He argued the figures suggested that higher fuel prices did not produce the broader economic slowdown some analysts had feared.
The administration has also pointed to increased domestic energy production as a reason fuel prices could continue trending lower. Earlier this month, Interior Secretary Doug Burgum said expanding American oil production and exports should place additional downward pressure on gasoline prices nationwide.
National averages have already moved lower in recent weeks. According to AAA, the average price of regular gasoline fell below $4 per gallon in June, though significant regional differences remain.
California continues to post the nation’s highest average gasoline prices. Recent figures placed the statewide average at approximately $5.64 per gallon, a gap that Trump attributes largely to state taxes and regulations.
As oil markets continue adjusting following the easing of Middle East tensions, the administration is signaling that it expects consumers to see further relief at the pump. Trump made clear that, in his view, retailers should move quickly to reflect falling wholesale costs, arguing that Americans deserve to benefit as energy prices continue to decline.
