Trump Warns 'Big Trouble' for Oil Companies If Price Gouging

Summary

President Trump accuses major oil companies of price gouging at the pump, threatening an investigation and warning of 'big trouble' if they do not lower gasoline prices. He names Exxon Mobil, Shell, and BP, citing a sharp drop in oil prices and a 19-million-barrel release from the Strategic Petroleum Reserve, and states that pump prices should be around $2.25 per gallon.

• Trump claims oil companies are not passing lower crude costs to consumers at the pump.
• He explicitly threatens investigation into Exxon Mobil, Shell, and BP.
• Gasoline should be $2.25 per gallon based on current oil price levels.
• 19 million barrels were released from the Strategic Petroleum Reserve, described as a 'flood' of supply.
• Oil companies risk political and regulatory action if pump prices do not fall.