Donald Trump is escalating efforts to bring down high petrol prices in the United States, as rising household costs threaten to damage Republican prospects in November’s midterm elections.
The president was due to meet refiners and fuel retailers at the White House on Tuesday to discuss ways of reducing the cost of petrol and diesel. Companies expected to be represented included Valero Energy, Marathon Petroleum and PBF Energy, according to people familiar with the plans.
The administration has also moved to increase domestic supplies. The Environmental Protection Agency said a temporary waiver allowing the sale of a higher-volatility summer petrol blend would add hundreds of thousands of barrels a day to the market, with the measure taking effect on 1 September.
EPA administrator Lee Zeldin said the decision was intended to provide relief for American families, while Energy Secretary Chris Wright argued that increasing supply would put downward pressure on prices at the pump.
Trump has separately ordered the Justice Department to investigate major oil companies, accusing them of failing to reduce petrol prices in line with lower wholesale oil costs. He said consumers were being “gouged”, although the companies have not been accused of wrongdoing in court.
Petrol prices have risen sharply since the conflict with Iran disrupted energy flows through the Strait of Hormuz. US regular petrol has remained above four dollars a gallon, roughly one dollar higher than a year ago, according to Reuters.
The increase has become a particularly visible measure of the wider affordability crisis facing voters. Republicans are defending narrow majorities in Congress, and the cost of living is expected to be a central issue when Americans vote in November.
