Trump orders Justice Department investigation into oil companies over gasoline prices

US President Donald Trump said early Wednesday that he ordered the Justice Department to probe oil companies over high gasoline prices.

“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! In other words, customers are being ‘gouged’,” Trump said on his Truth Social platform.

“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!” he added.

On Tuesday, Trump said the average price of gasoline nationwide is down $0.60 a gallon “just from a short while ago.”

Last week, the average US gasoline price dropped to below $4 per gallon for the first time since March after the US and Iran announced a memorandum of understanding to end their conflict and restore shipping through the Strait of Hormuz.