WASHINGTON (AURN News) — President Donald Trump is meeting with oil refining executives at the White House today as Americans pay sharply higher prices at the pump.
AAA puts the national average for regular gasoline at about $4.10 a gallon, roughly 90 cents higher than a year ago. Diesel now averages more than $5.60 a gallon.
Executives from at least 10 companies were invited, including Chevron, Marathon Petroleum, Valero and Phillips 66. The White House says Trump wants ideas to lower prices and expand refinery capacity.
The meeting follows Trump’s accusations that refiners may be price gouging amid turmoil from the war with Iran and threats to oil shipments through the Strait of Hormuz.
Trump is also promoting a new agreement to develop Venezuelan oil. Energy experts warn that the project could take years to produce additional supplies.
With the midterm elections two months away, soaring fuel costs have become an economic and political emergency for the White House while Trump’s approval rating hovers in the mid-30s.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
