Trump Orders DOJ to Investigate Alleged Petrol Price Gouging

Former President Donald Trump has announced that he has directed the Department of Justice (DOJ) to investigate major energy companies for allegedly failing to reduce petrol prices in line with falling wholesale oil costs.

Trump posted the directive on social media, urging the DOJ to begin an inquiry “immediately.” He noted that he had expected petrol prices to fall more quickly than they had, though he did not name specific oil companies.

The comments come after global oil prices dropped from the peaks reached during the U.S.–Israel war with Iran, yet remain higher than pre‑conflict levels. Trump alleged that “big oil companies are not dropping their pump prices in line with the sharply lower prices they are paying for oil,” adding that customers are being “gouged.”

Oil prices spiked when Iran restricted the Strait of Hormuz after U.S.–Israeli strikes on February 28, disrupting the flow of oil and gas. Brent crude reached almost $120 a barrel in May, but has since fallen to just below $76 as peace talks progressed, remaining above the roughly $70 a barrel seen before the conflict. The U.S. benchmark, WTI crude, fell below $72 a barrel but still trades above the $60 a barrel level before the war.

In the United States, the average price of regular gasoline slipped to about $3.93 a gallon from a peak of just over $4 a gallon in April, its highest level since 2022, yet remains above pre‑war figures.

Trump’s remarks follow similar accusations made against UK oil firms after the Iran conflict began. However, the UK competition regulator reported in May that there was no widespread evidence of unfair price hikes, noting that average profit margins were “broadly unchanged” between February and March.

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