Trump Presses Oil Executives to Cut Pump Prices Before Midterms

The closed-door session in the Cabinet Room brought together leaders from major players like Marathon Petroleum, Valero Energy, and PBF Energy to discuss ways to expand refining capacity. While the administration seeks immediate relief for voters, the meeting became a forum for industry complaints regarding the Renewable Fuel Standard. Refiners argued that federal quotas requiring the blending of corn-based ethanol and soy-based biodiesel into the fuel supply are effectively driving up prices at the pump.

Energy Secretary Chris Wright and Interior Secretary Doug Burgum participated in the talks, which also explored the potential for increased imports of heavy crude from Venezuela. Although the administration hopes to utilize production from North American Blue Energy Partners to feed Gulf Coast refineries, industry representatives noted that logistical constraints limit the immediate impact of such a shift. Despite the friction over biofuel quotas, officials signaled that they are exploring regulatory changes and faster permitting to facilitate higher output. Following the meeting, Wright expressed optimism for downward pressure on fuel costs in the coming weeks, though the administration remains caught between the competing interests of the oil and agriculture lobbies as the November elections approach.