As Oil Prices have dropped, Gas Prices remain high ā and President Donald Trump wants to know why.
To that end, the president has directed the Justice Department (DOJ) to open an investigation into alleged gas price gouging.
He gave the directive Wednesday morning in a post on Truth Social.
āThe big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil,ā Trump weote. āThose prices are dropping like a rock!
āIn other words, customers are being āgouged,āā he added. āI have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what Iām seeing!ā
The presidentās approval rating has gone down like the Oil Prices in light of the closure of the Strait of Hormuz. This resulted in global fuel shortages and upped domestic Gas Prices to over $4 a gallon at the end of March.
On Wednesday morning, the average price of regular gas in the U.S. was just below $4 a gallon, down from $4.50 a month ago, according to AAA.
An Associated Press-NORC survey released last week reported 59% of U.S. adults believe that the U.S. military action in the region has āgone too far.ā
The presidentās approval rating on his administrationās economic policies dropped to 30% in an April AP-NORC poll.
The president and White House officials have said the economic strains are temporary and worth the long-term effort to ensure Iran doesnāt procure a nuclear weapon.
Trump also dismissed the Labor Departmentās finding of increased consumer prices as a āfake inflation reportā and said āthe numbers were great.ā
Firmly believe in capitalism. But the oil companies are more of a cartel than a corporation OPEC controls them.
So about a hundred days fighting Iran and Trump has gone too far, whatever that means. But the war in Afghanistan has been going on for decades, Russia and Ukraine for a few years. Another AP poll that is worth less.
Gas prices still lower than when old Joe was in office!