Trump accuses oil companies of gouging as gas prices fall slowly; experts explain market dynamics
By
Wyatte Grantham-Philips, Cathy Bussewitz
Summary
U.S. gasoline prices dropped 49 cents per gallon over the past month amid expectations of an end to the Iran war, but President Donald Trump has accused oil companies of price gouging and tasked the Justice Department with investigating. Experts note that gas prices take time to adjust to crude oil price changes, and oil companies don't directly set consumer prices. The article examines the economic and political pressures surrounding fuel costs ahead of midterm elections.
Source
bskyTrump accuses oil companies of gouging as gas prices fall slowly; experts explain market dynamicsapnews.comKey quotes
· 3 pulledThe big Oil Companies are not dropping their price at
customers are being 'gouged'
Crude oil is the main ingredient in gasoline and, as a result, its cost makes up the bulk of what consumers pay at the pump
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