Trump orders US petrol retailers to cut gasoline prices to $2.50/gallon

United States President Donald Trump again urged US gasoline retailers to cut prices immediately, citing crude oil prices around $68 per barrel. He told retailers on Truth Social to target a price of $2.50 per gallon, which converts to about ₦910 per litre, warning that failure to act would invite 'big problems' and accusing some states, especially California, of imposing excessive taxes that make fuel cost more than the product itself. Trump’s call comes after a similar demand last week aimed at major US oil firms. The report notes that Nigerians have also been calling for a drop in local fuel prices below ₦1,000 per litre following the slide in global crude prices. While the directive applies to US retailers, the commentary highlights how global oil price movements directly influence fuel costs in Nigeria, where pump prices remain above the psychological ₦1,000 mark. Consumers here should watch for any corresponding adjustments in domestic pump prices, as lower crude often eventually translates to cheaper fuel, though timing and extent depend on local pricing policies and taxes.

SOURCE: https://dailypost.ng/2026/06/30/reduce-gasoline-prices-immediately-trump-orders-us-petrol-retailers/