(CNN) – President Donald Trump said early Wednesday he ordered the Justice Department to look into what he called “gouging” by big oil companies.
Trump posted on Truth Social that big oil companies are not dropping prices at the pump in line with the lower prices they are paying for oil.
He wrote that oil prices are “dropping like a rock,” while customers are being “gouged” for gasoline. Trump warned that gasoline prices “better start going down” faster than what he is seeing.
The international oil benchmark Brent crude slid to under $77 a barrel on Wednesday. U.S. West Texas Intermediate was trading at under $73.
The easing continued after the U.S. and Iran struck a memorandum of understanding to work toward an end to the war.
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