Gulf senior energy advisor Tom Kloza discusses what’s to come with gas prices on ‘The Bottom Line.’
President Donald Trump on Wednesday announced that fuel prices will be lowered at select gas stations in the Philadelphia area just ahead of the Fourth of July holiday, as he boasted that oil and gas prices are dropping.
On Friday, Freedom Fuel Network will be lowering gas prices at 25 stations across the Greater Philadelphia Area, according to Trump.
“As we approach America’s 250th Birthday, I am pleased to announce that a VERY smart Retailer, located throughout the Northeast, is stepping up, and wishing the People of Philadelphia a ‘Happy Birthday!'” Trump wrote on Truth Social.
Trump said Freedom Fuel Network is “taking the lead” and urged other retailers to follow.
BESSENT WARNS GAS STATIONS ‘WE’RE WATCHING’ AS TRUMP DEMANDS IMMEDIATE PRICE CUTS
President Donald Trump on Wednesday announced that fuel prices will be lowered at select gas stations in the Philadelphia area. (Samuel Corum/Sipa/Bloomberg via Getty Images / Getty Images)
“They are doing this because they love the U.S.A. We are proud to celebrate America’s 250th Birthday in the Great Commonwealth of Pennsylvania, the Birthplace of our very special, one-of-a-kind Declaration of Independence,” he wrote.
“America has never been stronger than it is now, and Gas Prices will soon be back to the Record Low Prices Americans enjoyed at the pump before our very successful ‘excursion’ in Iran. Happy Birthday America!” the president continued.
He said that fuel prices are dipping, but not at the rate he would like to see.
“Just as I promised, Oil Prices are plummeting FAST, and Gas Prices at the pump are dropping too, but not as fast as they should be,” Trump said.
Freedom Fuel Network will be lowering gas prices at 25 stations across the Greater Philadelphia Area on Friday. (Al Drago/Bloomberg via Getty Images / Getty Images)
This comes after the president demanded on Monday that gasoline retailers lower their prices “IMMEDIATELY!” Last week, he threatened a federal price-gouging investigation against them.
Trump argued in his Monday post that gas prices are still “too high” despite a dip in crude oil futures to near levels seen before the recent U.S.-Israeli conflict with Iran, and urged retailers to target an average gas price of around $2.50 per gallon, which would be less than the roughly $3-per-gallon national average seen before the conflict, depending on the date and source.
“Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE! There will be no gauging, which is totally illegal. If Retailers don’t do this, big problems lie ahead!” he said on Monday.
“Start targeting around the $2.50 a Gallon number, and California should stop charging such heavy Taxes on their Gasoline. Soon the Tax will be higher than the Product itself, and the United States will not stand for it, nor will the People of California, who are being abused by these ridiculous Taxes, and by their own Government,” he added.
TRUMP ALLEGES GAS PRICE GOUGING, CALLS FOR DOJ INVESTIGATION
The president has demanded that gasoline retailers lower their prices “IMMEDIATELY!” (Celal Gunes/Anadolu Agency via Getty Images / Getty Images)
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California Gov. Gavin Newsom’s press office responded to Trump’s post on Monday by blaming the president for high fuel prices.
“REMINDER of what Trump said on March 12: ‘When oil prices go up, we make a lot of money,'” the governor’s press office wrote.
In another post, the press office wrote: “The GOP-enabled Iran war has now forced a growing $63 billion in extra fuel costs on Americans nationwide — that $243.14 per California household so far this year.”
The current national average for gas is $3.847 per gallon, with some states such as California exceeding $5 per gallon, according to AAA. AAA listed California’s average at $5.414 per gallon and Pennsylvania’s average at $3.986 per gallon on Wednesday.
