President Trump demands that Chevron and other oil companies immediately lower gasoline prices for American consumers.
President Trump urged oil companies to immediately lower retail gasoline prices for American consumers, citing the success of the oil industry under his leadership. The administration announced that these demands come as oil prices continue to rise following the start of the US-Israel war on Iran. President Trump criticized Mike Wirth, the chairman and CEO of Chevron, for failing to acknowledge the administration's role in the industry's performance. He stated that without the administration's foresight and stability, the oil industry would be in a state of decline. Following the announcement of imminent negotiations with Iran, crude oil prices dropped by five percent on Monday. While President Trump predicts that fuel prices will fall significantly once the conflict with Iran ends, some economists remain skeptical about the long-term economic impacts of the user-provided source material.