Gas

For the first time in four decades, a sitting president is taking direct aim at America's stagnant refining capacity, with President Donald Trump set to meet Tuesday with oil and gas executives at the White House to discuss expanding domestic refining operations.

President Trump went after gas prices this week, urging oil companies to lower their prices for American consumers.

The Trump administration is pushing to reopen closed oil refineries across the United States, including a dormant facility in the U.S. Virgin Islands, as gasoline prices remain elevated above $4.10 per gallon amid the ongoing Iran war.

The Department of Justice urged state attorneys general to investigate high gasoline prices.

President Trump has directed the Justice Department to open an investigation into alleged gas price gouging.

President Trump told CBS News during a phone interview that he is looking to suspend the federal gas tax "for a period of time."

Energy Secretary Chris Wright said Sunday he has no idea when gasoline prices will drop, pulling back from a prediction he made in March that gas could fall below $3 a gallon before summer.

President Trump threatened to eliminate an Iranian gas field should it launch another strike against a Qatari liquefied natural gas (LNG) facility again.

Long lines have formed at gas stations across China this week as drivers rush to fill their tanks ahead of major fuel price increases.

On October 22, 2025, President Trump announced a new round of sanctions targeting Russia’s two largest oil companies, Lukoil and Rosneft.