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Donald Trump Demands Oil Companies Lower Gas Prices Immediately
๐Ÿ‡ฉ๐Ÿ‡ช Germany /Energy & Infrastructure

Donald Trump Demands Oil Companies Lower Gas Prices Immediately

From Der Spiegel · () German

Translated from German, summarized and contextualized by DistantNews.

At a glance

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  • Donald Trump is demanding that gasoline retailers immediately lower prices, threatening consequences for price gouging.
  • He aims for a target price of $2.50 per gallon, significantly lower than the current average of nearly $4.
  • The call comes amid public frustration over high fuel costs, which Trump and his party fear could impact upcoming midterm elections.

Former U.S. President Donald Trump has issued a strong demand for gasoline retailers to lower their prices immediately, warning that "price gouging" is illegal and will lead to "big problems." Trump stated on his Truth Social platform that sellers must "IMMEDIATELY lower their prices" and set a target of $2.50 per gallon.

This public pressure comes as consumers face high fuel costs, a significant domestic political issue for Trump and his party. While a fragile agreement has reportedly eased oil transport through the Strait of Hormuz, the impact has not yet been fully reflected at U.S. gas stations. The current national average for regular gasoline hovers just below $4 per gallon, a figure far from Trump's desired price point.

The surge in gasoline prices is largely attributed to the sharp increase in crude oil costs, which have more than doubled since the conflict began. The disruption of oil shipments through the Strait of Hormus, a critical artery for global oil transport, is cited as the primary trigger for this oil price crisis.

Trump and his party are reportedly concerned about the electoral consequences of high gas prices heading into the upcoming midterm elections. Voters' frustration over rising costs could significantly impact the results, potentially leading to the Republican party losing its majority in the House of Representatives. This sensitivity to fuel prices has historically influenced political decisions, with past administrations also taking measures to address consumer concerns about the cost of gasoline.

Sellers of gasoline must LOWER their prices IMMEDIATELY. There will be NO PRICE GOUGING, this is illegal. If sellers do this, there will be big problems. Take a price of $2.50 per gallon as a target.

โ€” Donald TrumpFormer President Trump's statement on his Truth Social platform regarding gasoline prices.
DistantNews Editorial

Originally published by Der Spiegel in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.