Trump threatened gas station owners in the U.S. over high prices
On June 30, U.S. President Donald Trump called on gasoline retailers to lower their prices immediately. He warned that if they refused, they would face “big problems.”
“Gas retailers must lower their prices immediately! They are too high, considering that the price of oil is now $68 per barrel and falling rapidly. Retailers must respond quickly to this statement and do what they believe is right—lower prices for the sake of our great American people! If retailers fail to do so, they’re in for big trouble,” Trump said.
According to him, gas station owners in the U.S. should “start aiming for a price of around $2.50 per gallon (3.8 liters).” He made this statement on the social media platform Truth Social.
The day before, global oil prices plummeted, falling to their lowest levels since the start of the large-scale armed conflict in the Middle East involving the U.S., Israel, and Iran.
Qatar has begun preparing its tanker infrastructure and plans to restore liquefied natural gas (LNG) production to normal levels within a few weeks.
Fertilizer exports through the Strait of Hormuz have risen to pre-war levels, according to Bloomberg.
Global oil prices fell sharply on Thursday, June 19, amid reports of an agreement between the U.S. and Iran. Brent futures fell to $77.96 per barrel, and WTI futures to $74.96, the lowest levels since late February.
