U.S. President Donald Trump has demanded that petrol stations and other fuel retailers immediately lower prices following a decline in global oil rates. In a post on Truth Social, Trump warned that retailers could face serious consequences if they fail to reduce prices for consumers. He noted that oil prices had dropped to 68 dollars per barrel and were continuing to fall, yet retail fuel prices remained high.

Trump emphasized that retailers must act quickly to adjust prices and avoid overcharging, which he described as illegal. His warning comes after a period of sharp increases in oil prices triggered by the U.S.-Israel war with Iran, during which Tehran closed the Strait of Hormuz, a key route for global energy supply.

Oil prices have since declined as Washington and Tehran signed a memorandum of understanding and moved toward a potential final agreement, easing market tensions and prompting Trump’s call for lower domestic fuel prices.