What specific action did Donald Trump direct the Department of Justice to take regarding oil companies and gasoline prices?

Donald Trump instructed the Department of Justice to 'immediately start looking into' oil companies for not lowering pump prices in line with sharply falling crude oil costs, asserting that customers are being 'gouged' because the companies are not passing on the savings to consumers.

According to Trump's Truth Social post, what is the alleged discrepancy between crude oil costs and retail gasoline prices?

According to Trump's post, crude oil prices are 'dropping like a rock', yet oil companies are 'not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil', indicating a claimed failure to proportionally reduce retail gasoline prices despite significant declines in input costs.

Trump Instructs DOJ to Probe Oil Companies Over Higher Gasoline Prices

Jun 23, 2026

President Trump instructed the Department of Justice to investigate oil companies for failing to reduce gasoline prices despite falling crude costs. He claimed customers are being gouged and demanded faster price reductions at the pump.

reuters

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