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Posted on 06/24/2026 8:38:25 AM PDT by AAABEST
Trump said in the post on Wednesday: "The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil.
"Those prices are dropping like a rock! In other words, customers are being 'gouged.'"
He added that he had ordered the Department of Justice (DOJ) to "immediately start looking into this".
(Excerpt) Read more at bbc.com ...
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I don’t believe you voted for him.
When newsome and Trump are more or less speaking the same talking points word for word(newsome hates Chevron and targets them specifically)we have a huge fat turd of a problem.
ROLCON!
Trump understands that oil/gas/energy prices are the key to the midterms.
I believe that US Treasury has intervened in oil futures markets during the 3 month war to suppress prices, and that Trump probably had some agreement with China to use their massive reserves to cushion the supply shock
And now he’s using his bully-pulpit for populist messages against gasoline prices.
It all points in one, simple, political direction.
If you could go back, would you vote for Biden and Harris instead?
You would think they would play his game as he’s on their side. More competition would do it.
> Trump understands that oil/gas/energy prices are the key to the midterms. <
Yep.
> And now he’s using his bully-pulpit for populist messages against gasoline prices. <
Populist messages or socialist messages? The free market will eventually adjust. I get what Trump is trying to do. He’s playing it safe from a political point of view.
It’s always the same in situations like this... local gas prices go up rapidly but come down slowly. One day earlier this year in rural Missouri, I saw gas jump 40 cents a gallon from $3.29 in the morning to $3.69 by afternoon. Prices are now dropping but only 5-10 cents at a time.
No matter how much a capitalist a person is (and I am a big one) never be ignorant to the fact that big corporations will always put profit above everything. If they can gouge they will.
Just because this is typically a leftist refrain for rallying the low IQ lemmings does not mean it is never true.
Exactly, a little memory goes a long way, prices have typically risen fast and dropped slow, so yes, they sometimes need called out.
I worked in the oil industry for over 40 years. Around 1980, i asked an official at Shell how they could afford to continue spending at the same rate, since the price of oil had dropped significantly. He replied, “We make more money when the price of oil goes down, because the feedstock for our refineries is cheaper” He went on to explain that companies big enough to have their own production and refining never lost money. Smaller operators in production only, and service companies would suffer, even big service companies like Halliburton and Schlumberger, Weatherford would hurt, but not the refiners and marketers. So Trump is certainly correct in his assumption that they haven’t lowered prices, although I’m not sure I’d call it gouging. The major players in the oil business do not just reduce prices to pacify the public
> If they [corporations] can gouge they will. <
You betcha. That’s why there are laws against monopolies and price-fixing. Beyond that, the free market will level things out.
Like I said, I get why Trump said the things he did. I just hope it’s a road he doesn’t go too far down.
I agree
Both populist and socialist. But American's culture and political philosophy is not what it once was.
The USA overall has gone "statist." On one side we have the statist right (who would have been democrats in a previous generation) and on the other - outright communists and their very destructive allies, particularly in Islam.
They’re still working off the stock that they paid the higher price for. Prices should drop quite a bit, very soon.
WTI is $70.35.
That’s historically on the low side. For example, in today’s dollars oil was $97.70/bbl in 2020. Gasoline was $2.75.
There is zero reason gasoline at the pump should be over $3/gallon at $70 oil.
I say this as a guy who produces a lot of oil.
It takes about 30 days for the price of oil to come down. It’s long past time.
Sorry, gasoline.
Exactly
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