Trump tells gas retailers to cut pump prices, targets $2.50 a gallon as crude trades near $68 a barrel
AI Market Summary
Trump's public pressure on gasoline retailers to cut pump prices, alongside DOJ scrutiny, reinforces the near-term disinflationary impulse from lower crude. The news follows a sharp pullback in oil after the U.S.–Iran ceasefire and Strait of Hormuz reopening reduced supply-risk premia, with 2026 Brent/WTI forecasts revised down. While inventories may be tighter, the immediate narrative supports softer crude-linked pricing expectations.
Impact level
● Medium
Affected assets
NCCO1OILWTI2USD/USDT-1.15%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▼ Bearish
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President Donald Trump warned gasoline retailers they could face “big problems” if they do not quickly lower pump prices, arguing crude oil has fallen to $68 a barrel. He urged stations to aim for around $2.50 a gallon and accused some operators of price gouging. The national average price for regular gasoline is $3.91 per gallon, down for a fifth straight week. Forecasts for 2026 average oil prices were lowered to $84.50 a barrel for Brent and $79.49 for WTI after a U.S.-Iran ceasefire agreement and the reopening of the Strait of Hormuz.
