Treasury's Bessent urges gas retailers to drop prices for US 250th birthday, says "we're watching"

Source: Reuters

June 30, 2026 8:57 AM EDT Updated 1 hour ago


WASHINGTON, June 30 (Reuters) - U.S. Treasury Secretary Scott Bessent urged gasoline retailers on Tuesday to lower ​prices as the U.S. celebrates its 250th birthday, reinforcing President ‌Donald Trump's message with a warning that "we're watching."

"I would encourage all the gasoline retailers, some of them are owned by Big Oil, ​some are independent, some are international convenience chains," Bessent ​said in an interview with Fox News. "I would ⁠encourage them to be good actors, especially in the 250th ​anniversary, because we're watching."

Bessent reprised his boss's threat to gas stations ​on Monday to lower prices immediately or face "big problems." "If Retailers don't do this, big problems lie ahead! Start targeting around the $2.50 a Gallon ​number," Trump wrote in a social media post. On ​Saturday, the United States celebrates its founding 250 years ago as it ‌marks ⁠the July 4th holiday.

Oil prices spiked this year after the U.S. and Israel launched strikes on Iran in late February and Iran responded with its own attacks on Israel and Gulf ​states with U.S. ​bases.

Read more: https://www.reuters.com/business/energy/treasurys-bessent-urges-gas-retailers-drop-prices-us-250th-birthday-says-were-2026-06-30/