Washington: U.S. President Donald Trump ordered oil retailers to immediately lower fuel prices and warned of drastic measures in the future if they fail to comply. This directive is part of a broader initiative by the administration to address consumer grievances over the high cost of fuel.
According to Thai News Agency, the move comes after President Trump stated he had ordered the U.S. Department of Justice to investigate oil companies for allegedly failing to lower retail gas prices to reflect falling crude oil prices. He has accused these companies of exploiting consumers, a charge that has intensified the focus on the oil industry's pricing practices.
Regarding oil prices this year, they have surged sharply after the United States and Israel launched attacks on Iran in late February. This prompted Iran to retaliate with attacks on Israel and Gulf states where US military bases are located, contributing to the volatility in oil markets.
Meanwhile, consumers are expressing serious concerns about persistently high retail fuel prices. This issue presents a significant challenge for the president and Republican members as they race against time to secure a slim majority in Congress for the midterm elections in November.