Why aren't gasoline prices falling as quickly as crude oil prices, according to the article?

Gasoline prices don’t drop immediately when crude oil prices fall because gas station owners—not oil companies—set pump prices, and refineries often process crude oil purchased weeks or months earlier at higher prices; additionally, market changes take time to move through the supply chain from crude markets to refineries to distribution and finally to consumers.

What did Trump claim about oil companies and gasoline pricing, and what was the expert response cited in the article?

Trump claimed on Truth Social that 'big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil' and directed the Justice Department to investigate potential price gouging; however, Columbia University’s Karen Young called the allegation 'a bit like political theater,' stating that 'that’s not really how gasoline prices work in the U.S.'

Trump Frustrated Gasoline Prices Don't Mirror Oil's Decline; Experts Say It's Not That Simple

Jun 25, 2026

President Trump criticized oil firms for not cutting pump prices despite falling crude costs, though experts cite refining lags, taxes, and Middle East supply disruptions as key factors.

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