Trump Celebrates Falling Gas Prices, Asks for Help from the Public: ‘Report Any Abuses’
A recent series of events has led to notable changes in gas prices. After President Donald Trump threatened to take action against oil companies, the cost of gasoline dropped considerably. Trump accused oil companies of not passing on lower oil prices to consumers adn suggested a federal investigation into potential price gouging. Subsequently,gas prices fell across many states,with some experiencing reductions of over 20 cents per gallon.The decrease is attributed to declining crude oil prices, geopolitical developments involving Iran, and increased shipping activity in the Middle East. While prices are currently at their lowest since mid-March and continue to decline in many regions, analysts warn that geopolitical tensions could cause fluctuations, making the situation unpredictable.motorists are seeing relief at the pump, though prices remain higher than a year ago.
Only a few days after President Donald Trump threatened to drop the hammer on oil companies, gas prices have tumbled.
“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil,” Trump posted June 24 on . He said that a federal investigation of price gouging could begin if prices do not fall.
On Monday morning, Trump was posting the results of rattling Big Oil’s cage.
“GAS PRICES COMING DOWN, FAST! REPORT ANY ABUSES AT RETAIL LEVEL!!!” Trump posted on .
In another post, Trump noted that the price of West Texas Intermediate crude oil was “$69, and heading down. This is less than it was prior to the start of the Denuclearization of Iran!”
Patrick De Haan, an analyst at GasBuddy, noted the drops in a post on X.
West Coast seeing some nice drops to average gas prices- some of the largest drops have been in the West:
WA -20c/gal
OR -18c/gal
CA -15c/gal
NV -15c/gal
AK -14c/gal— Patrick De Haan (@GasBuddyGuy) June 29, 2026
“West Coast seeing some nice drops to average gas prices- some of the largest drops have been in the West,” he posted.
AAA noted that the average price of a gallon of unleaded gasoline as of Monday was $3.86.
One month ago, the average price was $4.39, AAA reported. However, gas prices still remain higher than a year ago.
GasBuddy reported on Monday that by its calculations, gasoline prices were down 55.6 cents from a month ago.
“Average gasoline prices fell in 46 states over the last week, with diesel declining in 49, pushing the national average to its lowest level since mid-March,” De Haan said.
“The declines came despite a turbulent week, as fresh attacks were traded between the U.S. and Iran before both sides agreed to halt hostilities just in time Sunday, preventing what could have been a significant spike in oil prices,” De Haan continued.
“For now, GasBuddy anticipates the national average will continue drifting lower this week, though the situation remains anything but predictable. A handful of price-cycling states could see prices jump ahead of the July 4 holiday, while many states that already cycled higher last week should see prices fall back down,” he said.
DeHaan noted that Iran could complicate vacation plans if the conflict continues.
“Motorists in non-cycling states are likely to see continued relief, but the fragile nature of the U.S.-Iran situation means the outlook could shift quickly.”
Giovanni Staunovo, a UBS commodities analyst, noted that the trend line has been positive, despite hiccups.
“Since the signing of the Memorandum of Understanding, we saw an uptick in ships crossing the Strait, with stranded ships suddenly becoming available and providing a wave of new supply. More importantly, ships are moving into the Gulf, as that is required to see production recovering in the Middle East, a process that could take longer and support prices again,” he said.
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