'We should be at $2.25 at the pump': Trump says Exxon, Chevron, Shell and BP are price gouging drivers. Do you agree?

[Yo_Mama_Been_Loggin]

President Donald Trump is accusing major oil companies of keeping gasoline prices artificially high despite a sharp drop in crude oil prices, saying American drivers are being "gouged" and calling on the Department of Justice (DOJ) to investigate.

"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil," Trump wrote Wednesday on Truth Social (1). "Those prices are dropping like a rock! In other words, customers are being 'gouged.'"

Trump said he had instructed the DOJ to "immediately start looking into this," adding, "Gasoline prices better start going down a lot faster than what I'm seeing!"

The comments come as wholesale oil prices have largely retreated to where they traded before the recent conflict with Iran, while prices at the pump have remained comparatively elevated.

https://finance.yahoo.com/energy/articles/2-25-pump-trump-says-131500941.html

"We should be at $2.25 at the pump else I'm in deep shit." Fixed it for you Donny.

[surfered]

1. He'll blame anyone else for his screw ups, including his own donors.

[WmChris]

9. He's on a roll

Seems he wants to ensure Democratic takeover by alienating our allies, and a majority of Republicans just to project blame away from his own self induced ego tantrums.

[ColoringFool]

18. I came here to say this. He views the world as corrupt and rotten as he is.

[okaawhatever]

22. Yes he does, he wants to change narrative. High prices aren't his or

republicans fault, it’s the oil companies. Repeated often enough it will work. Fox will repeat, Justice department will comment on some made up investigation and people will soak it up.

[B.See]

2. The guy who said high prices for gas were a good thing?

Do I believe THAT guy?

[struggle4progress]

3. "Only I, Donald, can save you from corrupt grifters!"

[31j20b3]

4. The price will be whatever the traffic can bear.

For me, $3.49 at the pump is cheaper than what was available 5 weeks ago.

Still, I;m in a squeeze. I have to have gas to get to where I work (even though I work for myself).

I can not buy gas and let my projects go to hell, or I can grimace and pay up. Currently I'm able to hedge my life around the elevated price.

SO, yae I am guilty of supporting the GAS BARONS and their gauging

I hope that Karma will bring the difficulty to those who are imposing it on us.

[GoodRaisin]

5. He said he was going to bring all the prices of everything down.

So he should just wave his magic wand.

[Norrrm]

6. Trump: "I don't think about Americans' financial situation. Not even a little bit."

https://www.democraticunderground.com/100221235003

[mike_c]

7. do I agree oil companies gouge?

Fucking aye.

I am surprised that Trump agrees. I suspect he's only trying to shift blame and cover his own ass. But yeah, oil companies take us all to the cleaners.

[underpants]

8. Jesus what an idiot.

[WmChris]

10. I'm afraid

That's disrespectful to idiots.

[underpants]

14. 😂👍

IBEW 👍

[Initech]

11. Their quarterly profits and CEO "bonuses" will tell the story.

[haele]

12. Stopped clock, etc....

Criminals and co-conspirators will narrowly tell the truth, (leaving their part in it omitted, of course) in situations where it might benefit them.

[underpants]

13. Not an expert but I doubt oil co.'s have even refined the $100+ oil yet

The price dropping on the trading market doesn’t change what they paid for some of their current inventory in fact it lowers the value of their inventory.

[haele]

16. Considering all the market manipulating BS his administration has been pulling over the past year and a half....

...Yeah, under an honest administration, oil prices should be lower.
And of course, the oil companies have not yet started to process the oil they've bought over the past couple months.
My only question is how much of a downward profit margin trend the oil companies and investors are willing to put up with through early November to keep the GOP in the US from falling apart. Because the GOP still needs to continue to be propped up another election cycle.
We're still 4 months out. Will investors wait that long?
After all, live by the quarterly margin, die by the quarterly margin...

[Blue Full Moon]

15. Both can be true.

He drove up the price. But those companies do price gouging and collude on the price.

[durablend]

17. RBOB cash is just a shade below $3/gallon

So in what fucking world does he think it'll be $2.25 at the pump?

[Boo1]

19. The global supply is too low

to be cheaper.

Considering that there is still active fighting then why does anyone expect the price to go down?

[Talitha]

20. At this rate Donnie, you're gonna need a bigger bus.

Take care that you don't fall out of a window.

[ProfessorGAC]

21. I Do Not Agree

Gas wouldn't be down to $2.25 even if he hadn't started his stupid, pointless war. The drop in crude prices since the peak suggests close to $2.60.
Secondly, if the petrol corporations are gouging its only possible because The Failure created the opportunity.
Finally, the gas the last 3 weeks was from oil bought in late April early May, so we're only half way through the lag. Not that the rich boy dolt would understand that.
It's just more bluster from a guy who understands nothing about how anything works floundering because he knows his failing administration is in an approval tailspin.
Plus, there is no way he wrote that post.