Trump calls for immediate gasoline price cuts and orders DOJ investigation
Trump pushed for gasoline prices of $2.50 a gallon and said a DOJ probe into oil companies could add regulatory risk for energy markets and investors.
Fact Check
The core claim—that Trump called for immediate gasoline price cuts and ordered a DOJ investigation into oil companies for alleged price gouging—is confirmed by multiple independent, authoritative outlets. Reuters and NBC News both report Trump instructed the DOJ to probe oil companies on June 24, 2026, with NBC quoting his Truth Social post ('The big Oil Companies are not dropping their price at the pump...') and a DOJ spokesperson statement. Politico and BBC corroborate. Some numerical details vary between sources (e.g., the magnitude of the crude decline cited in the Cryptobriefing source vs. Reuters/NBC), but the substantive claim is solidly supported.
Summary
Trump said gasoline retailers should cut prices immediately and pushed for U.S. gasoline to fall to $2.50 a gallon, arguing pump prices remain too high even as crude has traded at $68 a barrel. He also said a Department of Justice probe into oil companies could raise regulatory risks for the energy sector, with potential implications for energy markets and investor portfolios as election tensions build. AAA data previously showed the U.S. average price for regular gasoline at $3.85 a gallon, down from $4.36 a month earlier but above $3.19 a year earlier. U.S. inflation stood at 4.2% in May.
Terms & Concepts
- crude: Unrefined petroleum that is processed into fuels such as gasoline and diesel.
- inflation: The rate at which overall consumer prices rise over time, reducing purchasing power.
- regulatory risk: The possibility that government investigations, rules or enforcement actions could affect a company, sector or investment.