Trump Pressures Gasoline Retailers to Lower Prices Before July 4

Gasoline prices remain elevated ahead of the 2026 Independence Day weekend, with the national average sitting at approximately $3.84 per gallon. Although prices have declined from a June peak of over $4.56 per gallon—with Arkansas and Oklahoma seeing drops of several cents—costs remain nearly a dollar higher than pre-war levels following a conflict with Iran.

Donald Trump, President of the United States, has publicly pressured gasoline retailers to reduce prices immediately, suggesting they target around $2.50 per gallon. Trump claimed that retailers are not passing savings to consumers quickly enough and warned that big problems lie ahead if they do not comply. U.S. Treasury Secretary Scott Bessent also urged retailers to lower costs.

Despite the high prices, record travel is expected. The American Automobile Association forecasts that 72.2 million people will travel at least 50 miles from home, with 61.4 million choosing to drive. Analysts indicate that prices will remain high due to low inventories along the U.S. Gulf Coast and the time required for retailers to exhaust expensive wholesale fuel stocks. In response to the costs, many travelers are opting for shorter trips and reduced discretionary spending.