What specific price target did Trump set for gasoline retailers, and what consequence did he warn would follow if they failed to comply?

Trump explicitly instructed gasoline retailers to 'Start targeting around the $2.50 a Gallon number' and warned that 'If Retailers don't do this, big problems lie ahead!' He also emphasized that 'There will be no gauging, which is totally illegal,' framing noncompliance as both economically unacceptable and legally actionable.

What action has Trump directed the Department of Justice to take regarding oil companies and gasoline pricing?

Trump stated that he has 'instructed the Department of Justice to look into oil companies for not lowering gasoline pump prices in line with falling crude costs,' accusing them of 'gouging' customers — a charge rooted in the perceived disconnect between declining crude oil prices and persistently high retail gasoline prices.

Trump Urges Gasoline Retailers to Lower Prices, Warns of 'Big Problems'

Jun 29, 2026

U.S. President Trump ordered gasoline retailers to cut prices immediately to $2.50/gallon, warning of consequences for price gouging. This follows rising oil costs linked to recent U.S.-Israel strikes on Iran and subsequent regional conflicts.

reuters

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