US President Donald Trump has warned gasoline retailers that “big problems lie ahead” if they fail to cut prices at the pump right away. Oil climbed to nearly $120 a barrel at the outbreak of the war in Iran, but it has since retreated a long way, sitting near $70. That drop, in Trump’s telling, should already be showing up in what drivers pay.

 

Writing on Truth Social, President Trump told retailers they must start targeting around $2.50 a gallon. He then took specific aim at California, declaring the state should stop charging high gas taxes and making the bold claim that “soon the Tax will be higher than the Product itself, and the United States will not stand for it.”