Trump accuses big oil firms of price-gouging drivers
US President Donald Trump has ordered a Department of Justice investigation into major energy companies, accusing them of price-gouging consumers. Trump claims fuel prices remain artificially high despite a drop in wholesale oil costs.
Why it matters
The investigation highlights ongoing tensions between the executive branch and the energy sector regarding inflation and the cost of living for American citizens.
Image source, Bloomberg via Getty Images By Osmond Chia and Mitchell Labiak , Business reporters Published 24 June 2026 Updated 20 minutes ago US President Donald Trump has said he has ordered an investigation into major energy companies, accusing them of "gouging" drivers by not cutting fuel prices after wholesale oil costs fell on global markets.
The report balances the President's accusations with the industry's defense and provides context on market fluctuations.
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