Trump Calls for White House Meeting with Oil Refiners After Accusing Them of Gouging Consumers

On August 31, President Donald Trump publicly accused U.S. oil refiners of gouging American motorists and urged the Justice Department to investigate the practice. He subsequently invited a slate of refining companies—including Marathon Petroleum, Delek US Holdings, Chevron, PBF Energy, and Valero Energy—to the White House for a meeting aimed at discussing ways to expand U.S. refining capacity and lower gasoline prices, which have risen above $4 per gallon amid the ongoing Iran conflict. Exxon Mobil, the nation’s third-largest refiner, was not among the invitees.

Reuters

The administration links the current price environment to “years of Democratic policies” that it says have led to refinery closures and deterred new investment. A White House official noted that the United States is operating at nearly 100 % of its existing refining capacity, prompting a focus on “concrete, near-term steps” to add capacity. Gasoline prices have surged since the Iran conflict began in late February, with the American Automobile Association projecting August to become the most expensive month on record. Despite high pump prices, U.S. refiners posted bumper second-quarter earnings; Marathon, Phillips 66, and Valero together reported $12.6 billion in profit.

Reuters

President Trump framed the meeting as a platform to pressure refiners to use their strong earnings to bring down consumer fuel costs. The White House emphasized that expanding domestic refining is essential for “concrete, near-term steps” to reduce gasoline prices. An unnamed White House official asserted that the nation’s refining system is already near full utilization, underscoring the urgency of the administration’s push for additional capacity and increased Venezuelan crude imports.

Reuters

• “You want to be at the table, but you also have to think about what could happen once you're there. You don't want your CEO to be embarrassed,” — one company official

Reuters

• “This event is a made-for-TV moment, strictly performative, that can only embarrass the company,” — Reuters. Stephen Brown, a former Washington energy lobbyist and consultant

Reuters