US Investigation into Petrol Price Gouging by Energy Companies

AI Summary

US President Donald Trump has instructed the Department of Justice (DOJ) to investigate claims of price gouging by energy companies, asserting that petrol prices have not fallen in line with declining crude oil prices. Brent crude prices reached nearly $120 per barrel in May but have since dropped to around $76, while average US gasoline prices have decreased to approximately $3.90 per gallon from over $4 in April. This inquiry may impact market perceptions of energy companies as they could face scrutiny regarding pricing strategies. Trump's remarks indicate concerns that consumers may not be benefiting from lower oil prices (Brent).