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US President Donald Trump speaks at the Mack Trucks factory in Macungie, Pennsylvania, on Tuesday (local time). [AP]
US President Donald Trump speaks at the Mack Trucks factory in Macungie, Pennsylvania, on Tuesday (local time). [AP]

US President Donald Trump has directed the Justice Department to investigate why gasoline prices have not fallen as much as he expected, even as international oil prices decline.

According to Bloomberg, Trump posted on his Truth Social account Wednesday that "the price the big oil companies are paying for crude has dropped dramatically, yet the price at the pump has not dropped correspondingly."

"Gasoline prices should be coming down much faster than what I am witnessing," he said, adding that he had instructed the Justice Department to look into the matter.

However, Trump did not specify what he had ordered investigated or who the targets of any probe would be.

The remarks reflect frustration that falling crude prices have not been quickly passed on to consumers. International oil prices have dropped sharply this month amid increased traffic through the Strait of Hormuz, following the signing of a ceasefire memorandum of understanding between the United States and Iran.


mokiya@heraldcorp.com