President Donald Trump announced on Truth Social on 24/6 that he has ordered an investigation into major oil companies. He accused these corporations of failing to reduce retail prices at gas stations in line with the significant decrease in crude oil costs.

"Crude oil prices are plummeting! In other words, consumers are being gouged," he wrote, adding that these companies are keeping retail prices unchanged.

US President Donald Trump speaks in the Oval Office at the White House on 10/6. *Photo: AP*

Global oil prices had surged after Iran blockaded the oil shipping route through the Strait of Hormuz in response to US and Israeli airstrikes, which began in February. Gasoline prices are a sensitive political issue in the US, where fossil fuel-powered vehicles are the primary mode of transport for most people.

Trump has faced criticism, accused of pouring billions of USD in taxpayer money into the Middle East conflict. Critics argue this has driven up oil prices and inflation in the US, especially as midterm elections approach.

The US President had repeatedly predicted that fuel prices would "plummet" once the conflict ended. However, economists rejected that claim, forecasting that it would take months for oil prices to return to pre-war levels.

Gasoline price per gallon at a Shell gas station on 22/6 in Englewood, Colorado. *Photo: AP*

Recently, Tehran and Washington reached a preliminary agreement that allows oil tankers to continue passing through the Strait of Hormuz, although issues like Iran's nuclear program remain unresolved. While current gasoline prices are still higher than pre-war levels, they have decreased since the agreement was announced. According to the American Automobile Association (AAA), the average price for regular gasoline on 23/6 was 3,93 USD per gallon (3,8 liters).

Hong Hanh (According to AFP)