Trump Pressures US Oil Refiners to Lower Fuel Prices

President Donald Trump met with US oil refining executives on Tuesday to urge them to boost domestic production of petrol and diesel, aiming to lower pump prices ahead of the November midterm elections. The closed-door meeting, held at the White House, also addressed how the US could process more Venezuelan crude. A White House official, speaking anonymously, said Trump emphasized the need for lower fuel prices and asked how to increase refining capacity. Industry representatives aligned with this goal, and discussions included regulatory changes, faster permitting, and additional investments. The meeting underscores the political challenge for Trump, who campaigned on reducing energy costs but has seen prices surge amid the US war on Iran. According to the American Automobile Association, US fuel prices are at the highest seasonal level ever, with petrol averaging over $4 per gallon and diesel nearly $6 per gallon nationwide. In return, refining executives raised concerns about federal biofuel-blending requirements, arguing that quotas to mix alternative fuels into petrol are raising pump prices. The meeting lasted about an hour.