Trump Orders DOJ to Probe Oil Companies Over Pump Prices

U.S. President Donald Trump has directed the Department of Justice to investigate U.S. oil companies for failing to cut gasoline prices despite falling crude oil costs. Trump specifically mentioned Exxon Mobil and Chevron, accusing them of price gouging consumers, and emphasized the need for pump prices to reflect crude oil declines.

U.S. President Donald Trump announced on Wednesday that he has instructed the Department of Justice to investigate oil companies for not reducing gasoline prices in accordance with decreasing crude oil costs. He accused companies of overcharging consumers and mentioned Exxon Mobil and Chevron as part of the ongoing investigation.

This year, oil prices surged following the U.S. and Israel's military actions against Iran in February, raising consumer concerns over the high gasoline prices. Despite a dip in gasoline prices due to recent diplomatic progress between Washington and Tehran, Trump criticized that the decrease isn't proportional to the drop in crude oil costs.

Speaking on Truth Social, Trump accused major oil companies of not lowering pump prices in line with falling oil prices, underscoring that consumers are being unfairly overcharged. Current gasoline prices remain substantially higher than early 2023 figures, prompting the DOJ's involvement in addressing the issue.