Trump turns up heat on fuel retailers

U.S. President Donald ​Trump said on Monday gasoline retailers must get ‌prices down immediately and warned that there will be "big problems" ahead if they did not do so.

"Gasoline Retailers must get ​their Prices down, IMMEDIATELY," Trump wrote on Truth ​Social.

"There will be no gauging, which is totally ⁠illegal. If Retailers don't do this, big problems lie ​ahead! Start targeting around the $2.50 a Gallon number," he wrote.

Last week, ​Trump said he has instructed the Department of Justice to look into oil companies for not lowering gasoline pump prices in line with ​falling crude costs, accusing the companies of "gouging" customers.

Oil prices ​spiked this year after the U.S. and Israel launched strikes on Iran ‌in ⁠late February and Iran responded with its own attacks on Israel and Gulf states with U.S. bases.

Consumers have raised concerns over high gasoline prices, as the president and his ​fellow Republicans ​battle to ⁠hold narrow majorities in Congress in November's midterm elections.

Diplomacy between Washington and Tehran to resolve ​the conflict has translated into some recent ​relief ⁠at the pump for Americans.

U.S.-Israeli strikes on Iran and Israeli attacks in Lebanon have killed thousands and displaced millions. A ceasefire went ⁠into ​effect in April and has since ​been extended but the U.S. and Iran have accused each other of ​violations.

-Reuters