Trump said Americans are being ripped off en masse at gas stations — Reuters
U.S. President Donald Trump has officially ordered the Department of Justice to launch a large-scale investigation into the largest oil companies over the slow decline in fuel prices at gas stations across the country.
The president accused the energy giants of artificially keeping retail prices high and blatantly deceiving consumers.
The Republican’s strong reaction came amid voters’ concerns about the high cost of living.
The Republican leader’s public dissatisfaction came amid voters’ concerns about the high cost of living, at a time when the president’s party is waging a fierce battle to secure a majority in Congress in the November midterm elections.
The sharp drop in global commodity prices, which has not been reflected at U.S. gas stations, has sparked a wave of public outrage.
The significant gap between the drop in crude oil prices and actual prices at gas stations became a source of criticism.
A diplomatic breakthrough and the signing of a temporary peace agreement between the U.S. and Iran allowed for the reopening of the strategically important Strait of Hormuz, through which one-fifth of the world’s oil supplies had previously been transported.
As a result, U.S. crude oil prices have fallen by 23 percent recently and have plummeted by about 40 percent from their March peak.
At the same time, the average price of gasoline in the U.S. stood at nearly $4 per gallon early Wednesday, representing a decline of only 14 percent compared to May.
The U.S. president considers this slow pace unacceptable and suspects oil companies of speculation.
Reuters reported this, citing a public statement by the U.S. leader on social media.
Trump and Iran Disagree on Nuclear Inspections, Assets, and the Strait of Hormuz
Six people were detained in the U.S. for damaging the Mirror Pond
