Trump accuses oil companies of gas price ‘gouging,’ calls for DOJ probe
Trump touts falling gas prices as lawmakers pass war powers resolution01:56June 24, 2026, 4:50 AM EDT / Updated June 24, 2026, 12:44 PM EDTBy Yuliya Talmazan and Steve KopackPresident Donald Trump said Wednesday that he had instructed the Justice Department to immediately probe oil companies for not lowering gas prices at the pump in line with falling costs, accusing them of “gouging” consumers.
Trump did not name any companies in his late-night message on Truth Social, which was posted shortly after midnight.
“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. “Those prices are dropping like a rock! In other words, customers are being ‘gouged.’ I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!” he added.
In response to the president’s message, the American Petroleum Institute, which represents all of the major U.S. oil and gas companies, said the industry “shares the goal of delivering relief at the pump and restoring stability to global energy markets.”
But “gasoline prices don’t move in lockstep with crude oil, especially during a major global disruption that is still affecting supply, refining and inventories,” API spokesperson Bethany Williams said.
“Our focus remains on supporting market stability and delivering the energy consumers need,” she added.
Asked for comment, a DOJ spokesperson said, “The price of fuel is not only a national security issue, it impacts the wallet of every American. We will always commit to ensuring affordability in this nation.”
Trump’s war in Iran and Tehran’s subsequent closure of the strait of Hormuz rocked global markets and sent energy prices soaring, resulting in higher gas prices for Americans at the pump.
That has translated into concerns that consumers may punish Republicans in November’s midterm elections.
While prices have eased in recent weeks amid peace talks and news of an interim deal that would include reopening the waterway, through which one-fifth of the global oil supply is moved, traffic through the strait remains a sliver of what it was before the war.
Gas prices in the United States fell last week below $4 per gallon for the first time since March, bringing some relief to consumers.
U.S. crude closed at $73.21 Tuesday, just $6.19 higher than the day before the U.S. and Israel launched the war on Iran in late February. On Wednesday, prices continued their slow decline but still remain about 25% higher than where they started the year.
The national average gas price meanwhile hovered at $3.92 as of early Wednesday, according to AAA data tracked by NBC News, compared with the $4.52 average a month ago. That’s a drop of nearly 13%.
But that’s still much higher than the national average price a year ago, which stood at $3.22, according to AAA.
Increased gas prices have resulted in higher monthly expenses for Americans — anywhere from less than $20 to more than $300 for a driver who fills up twice a month, according to an NBC News analysis of AAA’s average national gas price data.
Trump sought to reassure voters in a key Pennsylvania swing district Tuesday that costs are coming down and that people are better off than they were two years ago.
Despite the relative reprieve at the pump, there is still uncertainty about whether the interim agreement will hold and traffic will continue to flow through the key trade route as the parties continue to negotiate the final agreement to settle the thorniest issues, such as Iran’s nuclear program.
The U.S. and Iran were in dispute Tuesday over whether Tehran had agreed to allow United Nations inspections of its nuclear sites.
Yuliya TalmazanYuliya Talmazan is a reporter for NBC News Digital, based in London.
Steve KopackSteve Kopack is a senior reporter at NBC News covering business and the economy.
Reuters contributed.Badenoch blasts 'moaning' female Labour MPs over Burnham jobs 'quota'
Kemi Badenoch has told Labour women to earn a job in Andy Burnham's Cabinet instead of demanding they are handed jobs because of their gender.
The Tory leader lashed out today amid reports that female MPs are demanding the de-facto new prime minister introduce a 50:50 gender split 'quota' in his government.
Amid reports that former foreign secretary David Miliband is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister also complained that Burnham could not have 'more Milibands than women' in the top posts.
But in a scathing article in the Times today Mrs Badenoch told them to 'stop moaning' and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'.
'There are many, many reasons why you shouldn't have any Milibands in the cabinet,' she said.
'But complaining that the boys haven't given them the right jobs or that the boys are taking all the jobs, just shows that Labour's women still don't get it.'
The idea of quotas was also attacked by Baroness Jacqui Smith, Labour's Skills Minister.
Asked by Times Radio if Mr Burnham should reserve jobs for women, she said: 'No, I think what Andy Burnham should be doing is building the very best team around him to change this country.'
A letter written by the Women's Parliamentary Labour Party has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs
Amid reports that former foreign secretary David Miliband (above, right, in 2010) is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister complained that Burnham could not have 'more Milibands than women' in the top posts
But Mrs Badenoch told them to pipe down and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'
A letter written by the Women's Parliamentary Labour Party and seen by the BBC has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs after he succeeds Sir Keir Starmer.
'We are asking you to demonstrate this change from day one and address the toxicity and misogyny within our own party and government,' it said.
Labour has never had a female leader, while the Conservatives have had three, and Mrs Badenoch urged the government to follow its meritocratic example.
'If you run a meritocracy, then you do not have to worry about jobs for the boys,' she wrote.
'Every woman who is a Conservative MP, every woman who has ever won the leadership, has had to fight to get where she is.
'By contrast, Labour women are demanding guarantees from Burnham. But the truth is he doesn't have to give any guarantees.
'If none of Labour's women are prepared to get their hands dirty and challenge him for the leadership, their demands are toothless.'
'In fact, it's quite revealing that the women's parliamentary Labour Party has written to Burnham asking him to commit himself to at least 50 per cent female ministers.
'This has nothing to do with meritocracy. It is yet more of the failed identity politics that is holding back our country.'
