Trump Targets Oil Majors Over Stagnant Gasoline Prices

The president’s move follows a period of market volatility sparked by U.S. and Israeli military actions against Iran in February, which initially sent oil prices into a sharp climb. While recent diplomatic progress between Washington and Tehran has provided some relief to crude markets, retail pump prices have failed to track that downward trajectory. Trump utilized Truth Social to frame the pricing discrepancy as a direct exploitation of consumers, arguing that corporations are pocketing record margins at the expense of American drivers. Although gasoline costs have retreated from their seasonal peaks, they remain substantially elevated compared to early 2023 levels. The Justice Department is now tasked with determining whether this pricing behavior constitutes anti-competitive practices or an unfair burden on the public.