00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump accused big oil companies of gouging consumers after gasoline prices
00:07failed to fall quickly following the end of the U.S. war against Iran, according to the
00:11Wall Street Journal. Trump said on Truth Social that oil companies were not cutting pump prices
00:16in line with lower crude costs, and said he instructed the Justice Department to investigate.
00:21The U.S. oil benchmark fell to about $70 a barrel on Wednesday, down roughly 27% from
00:28early June, while average gasoline prices have dropped less than 4% since the Iran deal.
00:33Oil executives and trade groups pushed back, saying gasoline prices do not move in lockstep
00:38with crude because of supply chains, refining, inventories and fuel bought weeks earlier at
00:44higher prices.
00:45For all things money, visit Benzinga.com.
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