President Donald Trump has told petrol retailers to bring their prices down, warning them of “big problems ahead” if they don’t.
“Gasoline Retailers must get their Prices down, IMMEDIATELY,” Trump wrote on his Truth Social platform on Monday. “There will be no gauging [sic], which is totally illegal,” Trump posted.
“If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number,” he wrote. “The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!”
READ: Trump suggests US could take Iran’s Kharg Island and its oil (March 30, 2026)
Trump criticized California in particular, for its taxes. “Soon the Tax will be higher than the Product itself, and the United States will not stand for it, nor will the People of California, who are being abused by these ridiculous Taxes, and by their own Government,” Trump wrote.
California’s Governor Gavin Newsom has been a fierce critic of Trump’s policies, including of his push to promote fossil fuels. The state had been increasing its use of renewable energy, and hopes to have a carbon-neutral electrical grid within 20 years.
This comes amid the war in Iran, which has caused a rise in prices. The Trump administration has pushed for more domestic fuel production and has invoked emergency powers to restart an oil pipeline in California that had been shut down because of a massive spill in 2015.
Last week, Trump had said he has launched an investigation into major oil companies over high petrol prices.
READ: Oil prices rise again amid US-Iran deadlock (April 28, 2026)
“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil,” he wrote in a Truth Social post.
“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,” he posted.
Trump has faced criticism for the war in Iran, and its impact on costs for millions of Americans, as the midterm elections draw closer. The president had repeatedly said that fuel prices would “come down like a rock” after the conflict with Iran ends, however economists have disputed this claim.
Oil prices were mixed on Tuesday as energy market participants closely monitored the potential for fresh talks between the U.S. and Iran in Qatar. This comes following recent military action that tested an initial agreement that was supposed to halt hostilities during 60 days of negotiations.