President Trump is searching for a new target in his battle against the affordability crisis, and it seems he’s found one in gasoline retailers.
The price of gas increased 40.5% on a 12-month basis ending May 2026, with fuel oil also moving up 58.9%, according to the Bureau of Labor Statistics (BLS). The increases came after the global oil supply was choked by the U.S. and Israel’s conflict with Iran—threatening supply routes out of the Middle East. With the conflict now seeming to be drawing toward a conclusion, oil prices have been coming down.
Gas prices, however, have remained elevated.
“Gasoline retailers must get their prices down, IMMEDIATELY!” Trump wrote in a post on Truth Social in the early hours of this morning. “They’re too high considering that oil is now at $68 a barrel, and heading south. The retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!”
Trump has attempted to shift market prices through the sheer force of his rage before.
