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Trump Summons Oil Executives to White House Amid Surging Gasoline Prices
Energy Minerals · Integrated Oil · yonhap_finance · 2026-08-31
President Trump has called a meeting with oil and fuel distribution executives to address the persistent rise in U.S. gasoline prices.
What Happened
Emergency Meeting: President Donald Trump has summoned executives from major and independent oil refineries and fuel distributors to the White House. The meeting, attended by Interior Secretary Doug Burgum and Energy Secretary Chris Wright, aims to address the ongoing surge in gasoline prices.
Price Drivers: The prolonged conflict with Iran has kept global oil prices elevated, directly impacting U.S. retail fuel costs. Data from the American Automobile Association indicates that diesel prices have surged 57% this year, significantly increasing the cost of living for American consumers.
Pressure on Refiners: President Trump has repeatedly criticized oil majors for reaping record profits while failing to lower retail pump prices. He has publicly urged these companies to share their windfall profits with the public and increase domestic refining capacity to ease supply constraints.
Political Stakes: With the midterm elections approaching, gasoline prices have become a critical political liability for the administration. The recent move to secure control over Venezuelan oil reserves, combined with this industry summit, reflects an urgent effort to stabilize energy supply and mitigate inflationary pressures.