President Trump blasted oil companies on Monday morning for high gasoline pump prices, telling them:
That goes for other Oil Companies as well…and get your consumer (retail!) Oil Prices DOWN, NOW! Thank you for your attention to this matter. President DJT
As of Monday morning, the national average for 87-octane gasoline at the pump stood at $4.09 a gallon, according to AAA data, marking the second consecutive week above the politically sensitive $4 threshold. Pump prices surged following the tit-for-tat strikes between the US and Iran, although upward momentum has begun to moderate as both sides signal a willingness to pursue a negotiated resolution to the conflict.
Here's the timeline of our reporting:
July 15: US Gasoline Prices Could Top $4 Per Gallon Within Days
July 20: US Gas Prices Cross Politically Sensitive $4 Level Closely Watched By Trump
July 24: Gas Prices Nearing Levels That Could Push Trump Towards Iran Talks, Says JPM Commodities Expert
Then diplomacy:
August 3: Iran Denies Negotiations With US After Trump Announces Talks For Monday Afternoon
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Trump's pressure on major oil companies to bring down gasoline prices comes as the national average remains above the politically sensitive $4-a-gallon threshold, with the midterm elections now less than 100 days away. Elevated fuel costs risk becoming a political liability, which helps explain why Washington is racing toward diplomacy following the recent tit-for-tat strikes.