Business & Finance
Trump to meet with U.S. refiners to address gasoline prices and capacity
The White House is seeking near-term measures from fuel distributors and refiners to lower consumer costs ahead of the midterms.
The short version
- President Donald Trump will host a meeting with U.S. oil refiners and fuel distributors on Tuesday.
- Administration officials aim to explore expanding domestic refining capacity and ensuring cost savings are passed to consumers.
- The effort comes as public disapproval of the administration's handling of living costs remains high amid global supply disruptions.
Key facts
- President Donald Trump plans to meet Tuesday with representatives from small, medium, and large fuel refiners and distributors.[CNBC]
- Top administration officials attending the meeting include Interior Secretary Doug Burgum and Energy Secretary Chris Wright.[CNBC]
- The administration is looking at immediate actions to boost refining capacity, including integrating crude flows from Venezuela following a recent agreement.[CNBC]
- An early August Reuters/Ipsos poll indicated that nearly half of Americans cited the cost of living as their primary election concern, with 70% disapproving of Trump's handling of the issue.[CNBC]
What remains uncertain
- The specific policy tools or regulatory shifts the administration might deploy to compel refiners to lower pump prices remain unannounced.[CNBC]