President Donald Trump has demanded that gasoline retailers immediately lower pump prices, warning of significant repercussions if they do not pass on the benefits of falling crude oil costs. He stated that current prices remain too high given that U.S. crude oil is trading around $68 a barrel and continuing to decline. Trump urged retailers to target prices around $2.50 per gallon, accusing some of illegal price gouging. He also singled out California, arguing that state gasoline taxes are excessively inflating prices for consumers. Less than a week prior, Trump had directed the Department of Justice to investigate potential price gouging by oil companies and retailers. National gasoline prices have indeed been trending lower recently, with the average price falling below $4 per gallon. This easing is attributed to stabilizing global oil markets following a U.S.-Iran ceasefire agreement, which has reduced concerns over supply disruptions. While crude oil prices have fallen sharply, some experts note a time lag in refining, transportation, and distribution processes before these lower costs reach consumers. Energy analysts have also cut their oil price forecasts amid these developments. However, lingering geopolitical risks could still lead to crude price rebounds.