Trump urges gasoline retailers to lower prices, warns of 'big problems' if they don't

Washington: 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.

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Here ⁠are ⁠details:


* "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.

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* 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.