US President Donald Trump made a stern statement addressed to gas station owners across the country. The head of state called on retailers to immediately lower fuel costs, warning that inaction would lead to serious consequences.
Ultimatum from the White House
In his social media post, Trump directly pointed out the unjustifiability of current gas prices. According to him, fuel costs should be adjusted downwards, as the price of oil has already dropped to $68 per barrel and continues to fall rapidly.
The President made it clear that he expects a swift response from the business community. He urged merchants to do "what they think is right" — lower prices for the American people. At the same time, Trump left no room for ambiguity: "If retailers do not do this, big trouble awaits them".
Target price and economic context
The US leader named a specific figure that sellers should aim for, in his opinion. The benchmark was set at $2.50 per gallon (approximately 3.8 liters). For comparison: in early May, the average cost of gasoline in the country exceeded $4.50 per gallon, which was a record high since July 2022.
The situation began to change after the announcement of a preliminary peace agreement between the US and Iran. Against this backdrop, fuel prices began to fall, dropping below the psychological mark of $4. Despite this, the cost of gasoline remains almost a dollar higher than a year ago.
Impact of geopolitics on the market
The sharp decline in global oil prices is linked to the resumption of shipping through the Strait of Hormuz. According to the latest data, the cost of black gold has practically returned to the level observed before the start of the conflict in Iran. It is precisely this factor, according to Trump, should become the basis for revising prices in the US retail market.