Trump Orders DOJ Probe of Oil Firms Over Slow Gasoline Price Drops

On June 24, 2026, President Trump directed the DOJ to investigate oil companies for alleged gasoline price gouging as crude costs have fallen faster than pump prices. WTI crude dropped from roughly $112 per barrel in mid-May to around $70, while the national average for regular gasoline eased only 14% to $3.90 per gallon. The move follows easing Brent and WTI prices after April-May Middle East tensions and highlights typical lags from refining, hedging, and distribution that could increase regulatory scrutiny on energy firms.