Trump claims gas prices should be at $2.25, blames price gouging

Published June 24, 2026 5:16pm ET | Updated June 24, 2026 5:16pm ET



President Donald Trump excoriated several U.S. oil giants for not working to bring down gas prices fast enough in the wake of the memorandum of understanding with Iran, which he signed last week.

“We should be, in my opinion, at $2.25 right now at the pump, and we’re higher than that,” he said while speaking in the Oval Office on Wednesday afternoon. “And we are doing a big investigation on it, yeah. They’re not reducing the prices commensurate with … what’s happening.”

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