“Customers are being gouged,” says Trump.
Trump on Price Gouging
Truth Social: The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being “gouged.” I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing! President DJT
Jun 23, 2026, 10:12 PM
Breakdown of What Drives Pump Prices
Retail gasoline prices typically consist of these main components (percentages vary over time and by region, based on U.S. Energy Information Administration data):
- Crude oil (~50-60%): The largest factor. Crude is a globally traded commodity priced on international markets based on supply and demand. Events like geopolitical tensions, OPEC+ decisions, production levels, and economic growth heavily influence it. eia.gov
- Refining costs and profits (~15-20%): Refineries process crude into gasoline. This includes operational costs, margins, and occasional disruptions (e.g., hurricanes or maintenance). Refiners are largely “price takers,” responding to market conditions rather than dictating final prices. afpm.org
- Distribution, marketing, and retail costs/profits (~10-20%): Transportation from refineries to terminals and stations, plus station operating expenses (labor, rent, credit card fees, etc.). Most gas stations are independently owned (major oil companies own very few—often less than 5%). Retailers set their own pump prices to stay competitive while covering replacement costs for the next fuel delivery. api.org
- Taxes (~15-25% or more): Federal excise tax (18.4 cents/gallon) plus varying state and local taxes/fees. These differ significantly by location (e.g., much higher in California than in some Southern or Midwestern states)
Who Actually Decides the Price You See?
- Retail station owners/operators set the final price at the pump. They buy wholesale gasoline (often from distributors linked to refiners) and adjust based on local competition, wholesale costs, volume sold, location, and the need to afford the next delivery. Prices can vary block-to-block due to these factors. usoga.org
- Upstream players (oil producers, refiners, wholesalers) influence wholesale costs but don’t directly control retail pricing.
- Market forces (supply/demand, futures trading, global events) drive the biggest swings. No central authority or cartel sets daily U.S. pump prices.
In short, it’s a free-market system where thousands of independent decisions and global dynamics interact. Stations compete fiercely, which helps keep margins thin at the retail level (often just cents per gallon after expenses). Prices rise or fall as costs propagate through the chain—retailers react more than they dictate.
Gouging Claim Silliness
- Retail stations (mostly independent) set the pump price. They buy at wholesale, and their margins are thin. They adjust based on replacement cost (what they’ll pay for the next load), local competition, and operating expenses—not just today’s crude spot price.
- There are built-in lags in the system: Crude → refining → distribution → retail. Wholesale gasoline prices (RBOB futures, etc.) move faster than pump prices. When crude drops sharply, it can take days or weeks for the full effect to reach consumers, especially with inventory already in the pipeline.
- “Gouging” claims like this are common from politicians on both sides when prices don’t drop instantly. But evidence of widespread illegal gouging is rare; it’s usually just market dynamics (supply chain timing, regional differences, taxes, retailer caution during volatility).
Gasoline is a complex, decentralized market. Blaming “Big Oil” for normal lags is ridiculous.
Is Trump Really That Stupid?
It’s highly likely. He is an economic illiterate on tariffs for certain.
In this case, it’s possible his talk is simply political. Regardless, he looks like an idiot to anyone who knows how ridiculous the claim is.
And he sounds just like Elizabeth Warren, again.
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April 20, 2026: Trump and Elizabeth Warren Share the Same Price Gouging Belief on Beef
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November 13, 2025: Three Statements on Price Gouging: Who Said What? Trump, Warren, or Biden?
I list three statements. Tell me who said them.
Who Said What?
A. “Actions must be taken immediately to protect Consumers, combat Illegal Monopolies, and ensure these Corporations are not criminally profiting at the expense of the American People.”
B. Meat packers are “corporate criminals” and Tyson Foods is abusing its “corporate market power and raking in record profits by jacking up meat prices.”
C. Meat packers are using “their position as middlemen to overcharge grocery stores and, ultimately, families.”
The oil problem is all on him. I am not a lefty, and Iran is not a left right issue, but any moron with a slight interest in middle east politics would understand that Iran’s trump card is the strait. Closure has been Iran’s main defensive strategy. The longer Iran can keep the strait closed, the better their negotiating position. They are completely playing the US. Who advised trump of the consequences of going to war and what Iran’s response would be? We have 0 leverage to get Iran to accept our demands. They can see the SPR releases and know when the world will turn on the US. If we occupy Kharg island and the Strait, Iran will blow up the oil infrastructure of the gulf nations and the desalinization plants. We will now end up begging Iran to have a bomb, pay them trillions to open the strait. The world needs to get used to very high oil prices from now on.
During the covid lockdown, gasoline never dropped below 3.25 a gallon here in Los Angeles, despite the roads being empty of the usual snarl of traffic. Of course there’s collusion and price fixing.
“Prices better go down” – he didn’t say or else xyz happens because he knows he is a blubbering buffoon.
“Gouging” Blaming “Big Oil”
Instead Of Sanctions – Tariffs – Iran War Loss.!
Trump cannot see the opportunity right under his nose. It’s called FIFA World cup championship.
If the Mexican narcos and mafia were smart, they would join FIFA and do their corruption racket legally.
In Texas I saw the previous customer had put $175 (about 44 gallons) into the tank. I’m guessing that’s his credit card limit at the pump.
I hope it wasn’t a Ford Pinto.
It was just $75 or so a few years ago. What is your post anyway, is it a flex or what?
I understand that everyone on this site hates Trump. But what do you want really?
Kamala Harris?
Gavin Newsome?
I know its like throwing darts at a dart board blind folded https://ballotpedia.org/Presidential_candidates,_2028
Conservative commentator Tucker Carlson has claimed there is one Democrat that President Trump is “very convinced” succeed him in 2028.
California Gov. Gavin Newsom is the one opposition figure the president privately believes can win the White House, according to his supporter-turned-critic.
Sounds horrible and ridiculous.
Horrible yes, ridiculous no. I’d like Massie, but that would never be allowed.
I want the complete opposite of Trump, someone who is principled, believes in the Golden Rule, and believes in the Rule of Law. There is a lot more on my wishlist, but I would settle for someone who meets those three criteria. I would take Thomas Massie in a heartbeat.
Both Parties Are Two Wings of the Same Bird – Headed By The CIA/Mossad “Epstein’ Island PDF ‘Club’ Member’s.!
Either would be a massive improvement. That’s how low Trumpstien has set the bar.
Sure. I imagine that either would open the border again, over-represent LGBTQIA++++++++++++, fly every race and gender identity flag from the White House except the American, have us re-entwined with all internationalist UN/NATO agreements,and prioritize the destruction of our sovereignty in any and every way possible.
Wouldn’t that be an exciting change?
Show me where the gay guy touched you
Lol weirdo
either would have been better.
The USA is a global laughingstock. Yes I would rather have Newsom, I’ve been on him since James Comey appointed Trump president.
I would have upvoted you if you proposed things like
Third parties
Runoff elections
Ranked choice voting
Proportional representation
Making the popular vote matter (for President)
Ending Citizens United
Reinstating Fairness Doctrine
ED: Neutering the Commission on Presidential Debates (how could I forget that)
etc
Instead you just devolve into mocking the other side. How do we make the USA better when the little people are bossed around by the rich and yet we are fighting each other, not against them?
It’s easy to mock the other side for reasons that I mentioned alone.
Where I think we all might be in agreement is the need to stop calling BRIBERY lobbying.
We have no representation . We’re back to the original condition:
Taxation Without Representation.
Anyone who won’t use the position to steal from the citizenry and is willing to focus on getting money out of politics.
At this point i don’t care right/left, just get us out of corruption
Someone like Mish!
I’d like to elect a president who conducts himself with dignity…one who can reach across the aisle to pull together the middle 80% of us. A balanced budget or at least serious, reasonable steps in that direction would be icing on the cake.
I’ve concluded that the oil Futures are directional, like the PMI
No idea what real prices for physical crude will be…
Gouging ?
Weren’t there people arrested for that at the reflection pool?
And to think this asshole went to Wharton College of Business. I believe his professor says he was the dumbest student ever.
Hard not to believe.
And he’s still a pedophile
Correction – probable pedophile.
Source: https://www.phillymag.com/news/2019/09/14/donald-trump-at-wharton-university-of-pennsylvania/
It’s rare for a professor to disparage the intelligence of a student, but according to attorney Frank DiPrima, who was close friends with professor William T. Kelley for 47 years, the prof made an exception for Donald Trump, at least in private. “He must have told me that 100 times over the course of 30 years,” says DiPrima, who has been practicing law since 1963 and has served as in-house counsel for entities including the Federal Trade Commission and Playboy Enterprises. “I remember the inflection of his voice when he said it: ‘Donald Trump was the dumbest goddamn student I ever had!’” He would say that [Trump] came to Wharton thinking he already knew everything, that he was arrogant and he wasn’t there to learn.”
If the oil price rises enough, that means lost midterms (despite all MAGA monkey-wrenching) and impeachment (that sticks this time). SCOTUS (perhaps) didn’t realize with its presidential criminal immunity ruling, how much it liberated and incentivized Trump’s 2.0 doings. However, if executive power switches blue, I suppose various (thousands of) co-conspirators could have much to fear. All the nefarious deeds will take years to disentangle, but maybe not, with AI put to work. Civil asset seizures and forfeitures could also be massive.
Trump in his blurted remarks shows awareness of at least some of this flow chart.
“Civil asset seizures and forfeitures could also be massive”
Both cheeks of the Uniparty ass LOVE civil asset forfeiture, which allows law enforcement to take property from anyone they stop, and use it for their own benefit, without ever charging them with any crime. It is rampant, and is most often used against the poor, who are unable to afford legal counsel to get their property back.
There is one metric for Trump policy and messaging: how much moolah has been underground-pumped to Trump-affiliated entities? Must be in the previous 5 minutes or so, before his brain switches channels.
The Weekly EIA petroleum report is out
https://www.eia.gov/petroleum/supply/weekly/
Another big drawdown:
Trump can keep whistling past that graveyard.
He’s trying to put the blame on the oil companies before the shit really hits the fan.
wait what is Trump complaining about? He and his cronies are not getting enough kickback/monies from big oil? lol
I think that is the implicit message to big oil. Protection racket stuff.
But he’s not wearing a war bonnet?
Leaping to mind: Ali said this, I think of Floyd Patterson: “I’ll beat him so bad he’ll need a shoehorn to put his hat on.” Trump sometimes talks like a bad photocopy of that, but people with glass chins shouldn’t throw shoehorns.
Total clown show as usual
Chris Whalens interview of Dizard is a must read – diesel and lubricants are going to be a big problem in a few weeks. Allocation and rationing already underway
Trump: snatching catastrophe from the jaws of fiasco.
Lol
It makes sense that if you have your gas station tanks filled with product at 4.65 a gallon, just because the replacement gas is maybe 30 cents cheaper, it doesn’t make the 4.65 a gallon product you’re currently selling cost LESS.
It does. But when the war broke out months ago prices at the pump jumped instantly even though it would take week before that more expensive oil reached their tanks.
In other words prices at the pump jump instantly on oil news but go down much slower which is what Warren and Trump are talking about.
That’s easy to explain, too. When the price jumps you’ll have to sell the existing gas at the higher price or else you might not have the cash flow to replace the higher cost inventory.
“Is Trump Really That Stupid?”
Word of the day is….
Demagogue – a political leader who appeals to popular prejudices and who makes false claims and promises in order to gain power. (works easily on MAGA morons).
https://www.merriam-webster.com/dictionary/demagogue
Do worry, Trump & Walrus will find a way to make things even worse.™
Soon Trump will promote himself to Megagogue