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Why Is Trump Taking Cues From Gavin Newsom?

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Posted By: RockyTCB, 6/26/2026 9:26:48 AM

Crude prices exceeded $110 a barrel in early April but now, at less than $70 a barrel on Thursday, are within a few of bucks of where they were before the bombing campaign against the terrorist regime in Tehran began. They have not fallen fast enough for the president, though, so he’s ordered the Justice Department to dig into oil companies’ business affairs. Please, Mr. President, don’t be Gavin Newsom. “The big oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil,” President Donald Trump announced Wednesday on social media.

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Reply 1 - Posted by: ARKfamily 6/26/2026 9:33:30 AM (No. 2121205)
Who says he is taking cues from Gavin Newsom? After the article, there were three comments. One of those comments was this: "I understand your analysis of why oil prices are high but here’s the confusing part: as soon as oil went up well over $100, the prices at the pump went up the NEXT day or that week." Maybe Donald Trump is remembering how that played out and is now wondering why lower prices aren't happening the next day. Just like the media to assume something that may not be accurate.
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Reply 2 - Posted by: cor-vet 6/26/2026 10:31:57 AM (No. 2121248)
I spent 33 years with a major oil company and I asked my immediate supervisor once, why gas went up 5 cents a gallon the next day, when a barrel of oil went up $1, but if oil went down $10 a barrel, it took weeks to come down a few pennies? His answer, "you'll never know!" On the plus side, my oil company stocks are doing OK in the long run, as I retired in '98.
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Reply 3 - Posted by: J. Arthur Brown 6/26/2026 11:39:55 AM (No. 2121279)
Big Oil isn't exempt from the "trust but verify" rule.
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Reply 4 - Posted by: Gordon Freeman 6/26/2026 12:04:07 PM (No. 2121292)
I think the higher price oil is in process and there is a significant amount of time that it takes for that oil to show up at the pump. If they drop the price immediately then they lose money on the higher price oil. The higher price oil/gasoline has to be sold at a price that doesn’t cause a loss.
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Why Is Trump Taking Cues From Gavin Newsom? 4 replies
Posted by RockyTCB 6/26/2026 9:26:48 AM Post Reply
Crude prices exceeded $110 a barrel in early April but now, at less than $70 a barrel on Thursday, are within a few of bucks of where they were before the bombing campaign against the terrorist regime in Tehran began. They have not fallen fast enough for the president, though, so he’s ordered the Justice Department to dig into oil companies’ business affairs. Please, Mr. President, don’t be Gavin Newsom. “The big oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil,” President Donald Trump announced Wednesday on social media.
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