President Donald Trump was criticized after telling gas retailers that they need to lower their prices to $2.50 per gallon "immediately" or face "big problems," prompting many critics to suggest he is panicking as discontent toward his administration grows amid fallout over the Iran war and a nationwide affordability crisis.
A recent Gallup poll found that 55 percent of respondents felt their finances were worsening, a level of pessimism exceeding that seen during both the COVID-19 pandemic and the 2008 financial crisis. This comes as the highly unpopular war in Iran continues to rage, sending gas prices surging. Americans have spent an additional $59 billion on fuel since Trump launched the war.
Even so, gas prices have steadily eased in recent weeks. The national average fell to $3.86 a gallon on Monday, according to AAA, down from $4.39 a month earlier and marking the sixth consecutive week of declines—a trend attributed to shifting conditions in the Middle East and the Iran war.
In a post on Truth Social, Trump demanded gas stations immediately lower gasoline prices, arguing that retail prices remain too high given that oil has fallen to about $68 per barrel and is continuing to decline. He also criticized California's gasoline taxes, claiming they are excessively high, and blamed state leaders for inflating fuel prices.
He wrote:
"Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!"
"There will be no gauging, which is totally illegal. If Retailers don’t do this, big problems lie ahead! Start targeting around the $2.50 a Gallon number, and California should stop charging such heavy Taxes on their Gasoline."
"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."
You can see Trump's post below.
@realDonaldTrump/Truth Social
Trump's rant comes as public sentiment has soured on the economy; recent surveys show that roughly two-thirds of Americans disapprove of Trump's economic stewardship, while a majority say their personal financial situation is deteriorating.
It was only weeks ago that Trump said he doesn't "think about Americans' financial situation" when negotiating terms with Iran—and people think he's now panicking, desperate to save face.
Trump's demand coincided with reports that shipping traffic through the Strait of Hormuz is rebounding somewhat after tit-for-tat strikes between the U.S. and Iran over the weekend.
Although fighting flared again after Iran targeted a Qatar-operated oil tanker, a Singapore-flagged cargo ship, and U.S. military bases in the Gulf, both sides ultimately agreed to step back from further escalation and restore safe commercial passage through the Strait of Hormuz.
The de-escalation comes under a delicate 60-day ceasefire reached on June 17, when Trump signed a 14-point memorandum of understanding with Tehran seeking to end the war and revive talks over Iran's nuclear program. Negotiations are being handled by Vice President JD Vance, Middle East envoy Steve Witkoff, and Trump's son-in-law, Jared Kushner.
@SecretaryBurgum/X
@Doug Ellin/X
@evanrachelwood/Instagram