Oil falls below $70 as Trump orders DOJ to probe companies for not cutting gas prices faster |
Oil falls below $70 as Trump orders DOJ to probe companies for not cutting gas prices faster
The president accused companies of "gouging" consumers as crude oil fell below $70 a barrel for the first time since early March
Alex Wong/Getty Images
President Donald Trump said Wednesday he has instructed the Justice Department to investigate oil companies for not lowering gasoline prices at the pump in proportion with falling crude oil costs, accusing the industry of "gouging" customers.
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock!," Trump wrote in a Truth Social post. "In other words, customers are being 'gouged.' I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I'm seeing!"
Trump did not name........