U.S. President Donald Trump speaks on the day he signs an executive order on vehicle repairs in the Oval Office at the White House in Washington, D.C., U.S., June 29, 2026. REUTERS/Aaron Schwartz
President Donald Trump issued an ominous threat to gas stations across America on Monday, telling them that they must lower their prices or else "big problems lie ahead."
"Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south," Trump wrote on Truth Social. "The Retailers must quickly react to this statement and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!"
Gas prices have been in flux since late February, when Trump and his Israeli allies launched the war against Iran. In response to the attacks, Iran exerted control over the Strait of Hormuz, a global waterway that accounts for roughly 20% of the world's energy trade, a move that has caused significant economic issues worldwide.
Trump also warned gas stations against "price gouging" and called on states to drop their gas taxes as well.
"There will be no gauging, which is totally illegal.," Trump wrote. "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."