President Trump said on Wednesday that he had instructed the Department of Justice (DOJ) to open an investigation into oil companies over high gasoline prices.
In a Truth Social post, Trump said that oil companies have not lowered their prices at the pump despite a recent decline in crude prices following the U.S.–Iran preliminary agreement.
“Those prices are dropping like a rock! In other words, customers are being ‘gouged,’” he said.
“Gasoline prices better start going down a lot faster than what I’m seeing!”
Brent crude futures fell below $75 per barrel on Wednesday (back near pre-war levels), while U.S. West Texas Intermediate futures dropped to $72.29, amid the resumption of shipping traffic in the Strait of Hormuz.
Bloomberg’s energy guru, Javier Blas, remarked after President Trump’s post:
“US President Trump, all political theatre, has just discovered the refining (and marketing) margin.”
The national average price for regular gasoline stood at $3.93 per gallon on June 23, according to the American Automobile Association (AAA), down from $4.04 the previous week.
The gas price was $4.53 per gallon a month ago.
Of course, given the supply/refinery chain, it takes time (two weeks) for crude prices to ripple through to pump prices…
AAA said it observed that gas prices remain above the levels before the conflict with Iran erupted in February.
The national average price for regular gas was $2.98 on Feb. 28, the day when the United States and Israel launched military operations against Iran, triggering the war.
“Getting prices back down to prewar levels will take longer because of the time it takes to resume shipping and production,” Marie Dodds, public affairs director for AAA Oregon/Idaho, said in a statement.
As Aldgra Fredly reports for The Epoch Times, US and Iran signed a memorandum of understanding last week to end the war. Under the agreement, the Strait of Hormuz would be fully reopened, and Tehran would not procure or develop a nuclear weapon. The United States also agreed to waive sanctions on Iranian oil for 60 days.
U.S. Secretary of Energy Chris Wright told ABC News on June 21 that commercial shipping traffic through the Strait of Hormuz had returned to normal levels, and that Americans should expect further declines in oil, gasoline, and other energy prices as traffic resumed.
“Flows of oil and natural gas through the straits have already returned to normal, and they will continue that way whatever happens with the negotiations with the Iranians,” he said.
Arsenio Dominguez, secretary-general of the International Maritime Organization, said on June 23 that more than 11,000 seafarers stranded in the region due to war would be evacuated under a coordinated effort with Iran, Oman, other coastal states in the region, the United States, and the maritime industry following the U.S.–Iran preliminary deal.
“We have secured the necessary safety guarantees and have thoroughly verified the conditions for safe navigation to support these operations,” Dominguez said in a statement.
Iran had previously blocked traffic in the Strait of Hormuz—a critical waterway through which a significant share of global oil and gas shipments passes—in response to the U.S. and Israeli attacks on its nuclear and military sites.
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11 Responses
Trump is invested heavily in oil stocks and the Gaza strip and has made billions off the backs of US taxpayers since 2017.
Trump has gouged you hard and fast right up the ass for a whole decade and there is literally no fixing this country now, short of an out of control and unplanned violent revolution 🙂
And when the DOJ comes back and says “the main cause of the oil price spike was the Iran conflict”, high oil prices will get re-classified as “just another Democrat hoax”.
Enjoy the price drop, its temporary and ‘our’ leaders and media are lying their azzes off about how this
I’ve made numerous entries in another section here about the deception showing Irans point of view of all of this
It does not match what we are being told
Look at this self serving Trump attacking anyone or anything that discredits his ridiculous war. He, no one else, caused the high gas prices.
Oil prices properly rose because of great uncertainty in oil supplies. That uncertainty still exists, especially after Trump says and does different things from day to day, and Israel openly defies the agreement.
He sounds like a leftist now, blaming oil companies for what he caused.
So he has his democrat attorney general going after oil companies, a delight for democrats. Oil companies have been a historical ally of conservatives, but it looks like Trump is alienating them too, just as he alienated MTG, Tucker, and many of us, his former supporters.
Trump has blundered in so many ways, I can never support him or take him seriously.
No one takes you seriously, you little transgender bitch.
Im seeing twice the number of homeless around here, ussa sucks. fuhhhh naw we aint makeing another 250 years
not a party pooper, but, naw, hell naw, aint in the cards.
Fye up Waylon Jennings, America
We The People are and have been gouged by you and your w a r for Israel, maybe if we got those $5,000 DOGE and those $2,000 rebate checks you spoke of, your gauging us with this war would not be hurting Americans as much as it is.
Instead, you spent that money on a war for a foreign country that is Blackmailing you
Israel plans to release select Epstein files in an attempt to blackmail Republican leaders into continuing the war.
alexjoneslive.com/2026/06/17/video-israel-is-publicly-pledging-to-sabotage-us-iran-peace-deal/
Im seeing crazy prices, 1 day 3.50,next 4 like over night shid
ohhhhhhh now he gives a shid,, re election day coming up????
He’s a snake, you are right, now he cares, before he said I don’t think about
Michael Yon is right, he’s a rhymes with gaitor