Trump blames oil companies as gas prices lag oil's decline; experts cite complex market factors
By
Wyatte Grantham-Philips, Cathy Bussewitz
Summary
U.S. gasoline prices have dropped 49 cents per gallon in the last month amid expectations of an end to the war with Iran, but President Trump is frustrated the decline isn't faster. He has accused oil companies of price gouging and tasked the Justice Department with investigating. Experts explain that gasoline prices don't perfectly mirror oil price declines due to refining costs, seasonal factors, taxes, and distribution margins, making the situation more complex than the president suggests.
Source
bskyTrump blames oil companies as gas prices lag oil's decline; experts cite complex market factorschicagotribune.comKey quotes
· 3 pulledThe big Oil Companies are not dropping their price at the pump commensurate with the sharply lower
President Trump, who wants to stave off the economic fallout of the war ahead of midterm elections, is now pointing at oil companies as the culprit.
Experts say it's not that simple.
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