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Trump urges gas prices cut to $2.50, warns retailers — AI-generated representative image of a U.S. gas station pump display showing prices near $2.50 per gallon amid political pressure to cut fuel costs.

Editorial Team

US President Donald Trump urged petrol retailers to cut gas prices “immediately,” warning of “big problems” if they do not and calling on stations to target “around the $2.50 a Gallon,” according to posts on his Truth Social platform on Monday.

The demand comes amid heightened political and economic pressure over rising costs following the US-Israel war on Iran, with Trump facing criticism over the conflict’s impact on Americans and with November’s midterm elections approaching. For more on the regional tensions, see Iran’s Plan to Strike Back Against the U.S..

Key developments

In a Truth Social post on Monday, Trump wrote: “Gasoline Retailers must get their Prices down, IMMEDIATELY,” and added, “There will be no gauging [sic], which is totally illegal.”
He warned: “If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number,” and urged retailers to “DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!”
Trump singled out California, calling for the state to lower petrol taxes and arguing they could soon exceed the cost of the fuel itself.
Trump said last week he ordered an investigation into major oil companies over high petrol prices, alleging pump prices were not falling in line with lower oil prices.

Context and background

Trump’s comments come as petrol prices have surged since the US-Israel war on Iran. The administration has pushed for increased domestic fuel production and has invoked emergency powers to restart an oil pipeline in California that was shut down after a major spill in 2015. Related coverage on the conflict’s wider trajectory is available in World Reacts to Israeli Strikes on Iran: Calls for Restraint Amid Rising Tensions.

California Governor Gavin Newsom, a Democrat and a prominent critic of Trump during the president’s second term, has opposed Trump’s push to promote fossil fuels. California has also been expanding renewable energy and aims to achieve a carbon-neutral electrical grid within 20 years.

Details and evidence

In remarks directed at California, Trump wrote that “Soon the Tax will be higher than the Product itself,” adding that “the United States will not stand for it,” and claiming Californians are being “abused” by “ridiculous Taxes” and “their own Government.”

In a separate Truth Social post dated June 24, Trump said he had instructed the US Department of Justice to investigate oil companies, writing: “The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil.” He added: “Those prices are dropping like a rock! In other words, customers are being ‘gouged’. I have instructed the DOJ [Department of Justice] to immediately start looking into this.”

Trump has repeatedly said fuel prices would “come down like a rock” after the conflict with Iran ends. Economists, however, have disputed his claims and have predicted longer-term economic repercussions linked to the conflict.

Current status and next steps

Trump’s latest statement sets a public expectation for immediate gas price reductions at the retail level and adds political pressure on California over fuel taxes. It also follows his June 24 directive for the Justice Department to examine whether major oil companies are keeping pump prices high despite lower oil costs.

No additional details were provided about the scope or timeline of the Justice Department review, and further updates are awaited.