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The Guardian - US
The Guardian - US
Business
Gaya Gupta in Washington

US treasury secretary warns oil and gas companies to lower prices: ‘We’re watching’

a man in a suit speaks with hand gestured
Scott Bessent, the US secretary of the treasury, speaks during a panel at a conference at the Washington Hilton in Washington DC on 26 June. Photograph: Nathan Posner/Shutterstock

Scott Bessent, the US treasury secretary, issued a veiled warning to oil and gas companies to lower their prices on Tuesday, a day after Donald Trump berated those retailers on social media for not dropping their prices fast enough and demanded they target $2.50 a gallon.

“I would encourage them to be good actors, especially in the 250th anniversary, because we’re watching,” Bessent said in an interview with Fox News on Tuesday morning, addressing big oil, independent and international retailers.

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