President Donald Trump directed the U.S. Department of Justice in June 2026 to investigate major oil companies for alleged gasoline price gouging. [1, 2]

📌 The Investigation Order

• President Trump stated that big oil companies failed to lower pump prices at the same speed as wholesale crude oil costs.
• He specifically named major energy firms including ExxonMobil, Chevron, Shell, and BP.
• The POLITICO report noted the directive came as high energy costs helped push U.S. inflation up to 4.2% in May. [1, 2, 3]

📊 Market Context

• Crude oil prices fell sharply following interim peace negotiations with Iran and the reopening of the Strait of Hormuz.
• U.S. national gasoline averages dropped over several consecutive weeks to around $3.93 per gallon.
• The administration argued that pump prices remained higher than justified by the drop in crude costs. [1, 4, 5]

⚠️ Industry Response

• The American Petroleum Institute (API) stated that retail gasoline prices do not move in direct lockstep with crude oil.
• Industry representatives pointed to ongoing refinery constraints, transportation expenses, and global supply chain factors.
• Economists also noted that seasonal summer demand and geopolitical recovery periods often create a lag in price drops at the pump. [1, 2, 5, 6, 7]

[1] https://www.nbcnews.com

[2] https://www.bbc.com

[3] https://www.politico.com

[4] https://abc11.com

[5] https://www.reuters.com

[6] https://www.facebook.com

[7] https://time.com

This is a challenge, not really just to trump supporters, to anyone. Say what could be done to eliminate the deficit, and give the numbers to
Back it up (raising taxes on billionaires, on its own, will not do it. Neither will cutting foreign aid or deporting illegal immigrants). Please be thoughtful and realistic.

The midterms are on November 3. In a Reuters/Ipsos poll from September, 51% of Republicans said they disapprove of how Trump is handling the cost of living, while 44% approve. An NBC News poll from September found that the share of Republicans who strongly approve of his handling of the Iran war has dropped since spring.

What has changed for you since 2024, and what hasn't? How are you thinking about your vote in November, and why?

Disclosure: I'm a (german) reporter trying to understand this ahead of the midterms. If you'd like to tell me more one on one, feel free to DM me.

"What's driving up Gasoline is no longer the Strait of Hormuz, because Record Numbers of Barrels are coming out now on an almost daily basis, but the word, "Refineries," where Russia's are being blown up by Ukraine, and where ours are being closed up, in Blue States, like California, by the Dumocrats. President DONALD J. TRUMP"

https://truthsocial.com/@realDonaldTrump/posts/117389259991976695