- Trump ordered a probe into major oil companies
- He accused them of keeping fuel prices too high
- The move follows criticism over rising gasoline costs
U.S. President Donald Trump has directed authorities to investigate major oil companies over rising gasoline prices, accusing them of failing to pass lower crude oil costs on to consumers.
In a post on his Truth Social platform on Wednesday, Eko Hot Blog gathered that Trump alleged that while oil prices had fallen significantly, fuel prices at service stations had not dropped accordingly, leaving motorists paying more than they should.
He accused oil companies of overcharging consumers despite benefiting from lower crude prices.
Fuel prices have remained a major political issue in the United States, particularly as millions of Americans rely on private vehicles for daily transportation.
The latest development comes as Trump continues to face criticism over the economic impact of the Middle East conflict, which contributed to a sharp rise in global oil prices after Iran disrupted shipping through the Strait of Hormuz following U.S. and Israeli military strikes earlier this year.
Although Washington and Tehran have since reached an initial agreement that reopened the strategic waterway to oil tankers, fuel prices have yet to return to levels seen before the conflict.
Trump has repeatedly insisted that gasoline prices would decline sharply after hostilities eased, but many economists believe it could take several months before global oil markets fully stabilise.
According to data from the American Automobile Association (AAA), the average price of a gallon of regular gasoline stood at $3.93 on Tuesday, remaining above pre-conflict levels despite recent declines.
The president has also come under pressure from critics who argue that the conflict has increased government spending overseas while leaving American households to deal with higher fuel costs and persistent inflation.
