Bessent Warns Oil Retailers to Cut Gas Prices Toward $2.50 as Trump Threatens “Big Problems”
Updated
Updated · The Guardian · Jun 30
Bessent Warns Oil Retailers to Cut Gas Prices Toward $2.50 as Trump Threatens “Big Problems”
3 articles · Updated · The Guardian · Jun 30
Summary
Scott Bessent told oil and gas companies to lower prices and “be good actors,” saying the administration is watching and that retailers are likely making record profits.
Trump’s push came after he demanded gasoline sellers move toward $2.50 a gallon, arguing pump prices remain too high with oil near $68 a barrel and falling.
The national average for gas is still $3.85 a gallon — down from a month ago but above last year’s Fourth of July level despite Brent crude sitting only about $1 above its pre-conflict price.
Holiday pressure is rising as AAA expects a record 72 million travelers over the July 4 period, with car rentals 10% pricier than a year ago and domestic flights averaging $830.