Trump: Gas prices not falling fast enough

President Trump on Wednesday acknowledged that while oil costs are dropping, gas prices are not following suit fast enough, ahead of the Fourth of July weekend.

“Just as I promised, Oil Prices are plummeting FAST, and Gas Prices at the pump are dropping too, but not as fast as they should be,” Trump wrote on Truth Social. “As we approach America’s 250th Birthday, I am pleased to announce that a VERY smart Retailer, located throughout the Northeast, is stepping up, and wishing the People of Philadelphia a ‘Happy Birthday!’

He claimed the so-called “Freedom Fuel Network” is expected to help lower gas prices at 25 stations in the Philadelphia area, helping drivers to hit the road for the holiday as gas prices fluctuate amid the Iran war.

“This Retailer is taking the lead, and others should follow,” he wrote. “They are doing this because they love the U.S.A. We are proud to celebrate America’s 250th Birthday in the Great Commonwealth of Pennsylvania, the Birthplace of our very special, one-of-a-kind Declaration of Independence, and where I won BIG in the Presidential Election!”

The president concluded his comments saying the gas prices will return to record lows seen “before our very successful ‘excursion’ in Iran.”

The post included what appears to be an AI-generated image of a gas station with signage reading “Freedom Fuel Network” on the station’s roof overhang and on each pillar adjacent to the pumps. The Hill has reached out to the White House for clarity on the network.

Trump lamented on Monday that gas prices have not lowered further after the U.S. and Iran agreed to a memorandum of understanding (MOU) that paused hostilities for 60 days and largely reopened the Strait of Hormuz to shipping traffic. Iran exerted its control of the strait by shutting it down, which is where roughly 20 percent of the world’s oil and gas is exported from.

The president urged gas companies to drop their prices and warned that “big problems lie ahead” if there is any price gouging.

“They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE!” he wrote in a post online.

The national average for gas in the U.S. reached $3.84 on Thursday, according to AAA. West Texas Intermediate crude trading sits at $67.66, while Brent Crude rests at $70.71.

Iran has reasserted its authority over the strait in recent days, which was followed by a short exchange of fire between the U.S. and Iran over the weekend. The ceasefire resumed soon after, though Iran’s Khatam al-Anbiya military command on Thursday warned of a “forceful response” if oil tankers passing through the strait do not follow approved routes.