19:27 - 24.06.2026

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June 24, Fineko/abc.az. US President Donald Trump stated on Wednesday that he has directed the Department of Justice to conduct an investigation into oil companies that fail to lower gasoline prices following the drop in oil costs.

According to ABC.AZ, Trump expressed his stance on social media, writing: "Big oil companies are not lowering prices at the pump proportionately to the sharp drop in prices they pay for oil themselves... Consumers are being 'ripped off.' I have directed the Department of Justice to immediately open an investigation into this matter."

Oil prices have fallen sharply over the past two weeks following an agreement between the US and Iran that restored shipping through the Strait of Hormuz. Despite the decline, Brent crude remains approximately $6 above pre-war levels.

Concurrently, US gasoline prices are easing to around $2.93 per gallon, following a recent spike triggered by the conflict that previously disrupted global oil supplies and drove up fuel overheads.