Gasoline prices starting at $6.67 per gallon and $7.99 per gallon of diesel are advertised at a Chevron station in Cambria, California on April 6, 2026 amid US President Donald Trump's illegal war of choice on Iran.
(Photo: daveynin/flickr/cc)
As Trump Discovers Gas Price Gouging, Democrats Offer a Solution: Tax Big Oil
"Mr. President: I have a windfall excess profits bill you could support," said one Democratic senator.
Jun 24, 2026
President Donald Trump said Tuesday that he has directed the US Department of Justice to investigate fossil fuel companies for not lowering gasoline prices as the cost of oil declines amid the prospect of an end to the Iran War.
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being 'gouged,'" Trump said on his Truth Social network.
"I have instructed the DOJ to immediately start looking into this," he added. "Gasoline prices better start going down a lot faster than what I’m seeing!"
While benchmark West Texas Intermediate and Brent Crude oil prices have fallen to their lowest levels since Trump launched the illegal US-Israeli war of choice on Iran on February 28, the average price for a gallon of unleaded gasoline in the United States was $3.93 per gallon on Wednesday, around one-third higher than it was the day before the war started but down from a high of $4.52 a month ago, according to the American Automobile Association.
"The price of fuel is not only a national security issue, it impacts the wallet of every American," an unnamed Trump administration official told ABC News on Wednesday following the president's post. "We will always commit to ensuring affordability in this nation."
Responding to Trump's post, US Sen. Sheldon Whitehouse (D-RI) noted on social media that he has a solution for Big Oil price gouging.
In March, Whitehouse and Rep. Ro Khanna (D-Calif.) reintroduced the Big Oil Windfall Profits Tax Act “to curb profiteering by oil companies and provide Americans relief at the gas pump.”
The legislation—which only applies to large oil companies—would impose a per-barrel tax “equal to 50% of the difference between the current price per barrel of oil and the average price per barrel last year, when big oil companies were already earning large profits.”
Democrats in both chambers of Congress have also called for the prosecution of corporations that use the war as a pretext for price gouging.
Polling has shown that Americans largely support a tax on Big Oil windfall profits, which, according to The Guardian, amounted to $23 billion in the first month of the war alone—or $30 million per hour.
NEW: As Americans face rising oil costs, Maine Senate candidate Graham Platner has released an energy plan aiming to “End Big Oil Price Gouging.”We find voters support key elements of the plan, including an oil windfall tax to freeze or lower electricity rates.
[image or embed]
— Data for Progress (@dataforprogress.org) June 18, 2026 at 11:49 AM
Trump has been a staunch supporter of fossil fuel companies. While running for reelection on a "drill, baby, drill" energy platform, he reportedly promised Big Oil executives that he would eviscerate climate regulations enacted by the Biden administration if they gave $1 billion to his campaign.
Fossil fuel interests spent nearly $450 million during the 2024 election cycle on campaign contributions, lobbying, and efforts supporting Republican causes and candidates, including Trump.
As pump prices soared and Americans suffered amid Trump's war, the president—who promised gas under $2 a gallon and no new wars—said that “when oil prices go up, we make a lot of money."
Last week, the Institute on Taxation and Economic Policy estimated that Americans have paid nearly $54 billion extra for gas and fuel—more than $400 per household—than they would have if the war never happened.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, It’s been nearly 30 years since I co-founded Common Dreams with my late wife, Lina Newhouser. We had the radical notion that journalism should serve the public good, not corporate profits. It was clear to us from the outset what it would take to build such a project. No paid advertisements. No corporate sponsors. No millionaire publisher telling us what to think or do. Many people said we wouldn't last a year, but we proved those doubters wrong. Together with a tremendous team of journalists and dedicated staff, we built an independent media outlet free from the constraints of profits and corporate control. Our mission has always been simple: To inform. To inspire. To ignite change for the common good. Building Common Dreams was not easy. Our survival was never guaranteed. When you take on the most powerful forces—Wall Street greed, fossil fuel industry destruction, Big Tech lobbyists, and uber-rich oligarchs who have spent billions upon billions rigging the economy and democracy in their favor—the only bulwark you have is supporters who believe in your work. But here’s the urgent message from me today. It's never been this bad out there. And it's never been this hard to keep us going. At the very moment Common Dreams is most needed, the threats we face are intensifying. We need your support now more than ever. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. When everyone does the little they can afford, we are strong. But if that support retreats or dries up, so do we. Will you donate now to make sure Common Dreams not only survives but thrives? —Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
donald trump
price gouging
us department of justice
sheldon whitehouse
us congress
windfall profits tax
big oil
President Donald Trump said Tuesday that he has directed the US Department of Justice to investigate fossil fuel companies for not lowering gasoline prices as the cost of oil declines amid the prospect of an end to the Iran War.
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being 'gouged,'" Trump said on his Truth Social network.
"I have instructed the DOJ to immediately start looking into this," he added. "Gasoline prices better start going down a lot faster than what I’m seeing!"
While benchmark West Texas Intermediate and Brent Crude oil prices have fallen to their lowest levels since Trump launched the illegal US-Israeli war of choice on Iran on February 28, the average price for a gallon of unleaded gasoline in the United States was $3.93 per gallon on Wednesday, around one-third higher than it was the day before the war started but down from a high of $4.52 a month ago, according to the American Automobile Association.
"The price of fuel is not only a national security issue, it impacts the wallet of every American," an unnamed Trump administration official told ABC News on Wednesday following the president's post. "We will always commit to ensuring affordability in this nation."
Responding to Trump's post, US Sen. Sheldon Whitehouse (D-RI) noted on social media that he has a solution for Big Oil price gouging.
In March, Whitehouse and Rep. Ro Khanna (D-Calif.) reintroduced the Big Oil Windfall Profits Tax Act “to curb profiteering by oil companies and provide Americans relief at the gas pump.”
The legislation—which only applies to large oil companies—would impose a per-barrel tax “equal to 50% of the difference between the current price per barrel of oil and the average price per barrel last year, when big oil companies were already earning large profits.”
Democrats in both chambers of Congress have also called for the prosecution of corporations that use the war as a pretext for price gouging.
Polling has shown that Americans largely support a tax on Big Oil windfall profits, which, according to The Guardian, amounted to $23 billion in the first month of the war alone—or $30 million per hour.
NEW: As Americans face rising oil costs, Maine Senate candidate Graham Platner has released an energy plan aiming to “End Big Oil Price Gouging.”We find voters support key elements of the plan, including an oil windfall tax to freeze or lower electricity rates.
[image or embed]
— Data for Progress (@dataforprogress.org) June 18, 2026 at 11:49 AM
Trump has been a staunch supporter of fossil fuel companies. While running for reelection on a "drill, baby, drill" energy platform, he reportedly promised Big Oil executives that he would eviscerate climate regulations enacted by the Biden administration if they gave $1 billion to his campaign.
Fossil fuel interests spent nearly $450 million during the 2024 election cycle on campaign contributions, lobbying, and efforts supporting Republican causes and candidates, including Trump.
As pump prices soared and Americans suffered amid Trump's war, the president—who promised gas under $2 a gallon and no new wars—said that “when oil prices go up, we make a lot of money."
Last week, the Institute on Taxation and Economic Policy estimated that Americans have paid nearly $54 billion extra for gas and fuel—more than $400 per household—than they would have if the war never happened.
From Your Site Articles
- Thanks to Trump's Iran War, Big Oil Raking in $30 Million Per Hour in Windfall Profits ›
- Big Oil Windfall Tax Would Return ‘Egregious’ Iran War Profits to Struggling US Families ›
- Windfall Tax on Big Oil Demanded as Trump's Iran War Pads Profits of Fossil Fuel Giants ›
- Dems Call for Prosecution of Corporations Using Trump's Illegal Iran War as Cover to Hike Prices ›
- New Polling: As Trump’s War Drives Up Energy Prices, Americans Call for Corporate Profiteering Crackdown ›
President Donald Trump said Tuesday that he has directed the US Department of Justice to investigate fossil fuel companies for not lowering gasoline prices as the cost of oil declines amid the prospect of an end to the Iran War.
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being 'gouged,'" Trump said on his Truth Social network.
"I have instructed the DOJ to immediately start looking into this," he added. "Gasoline prices better start going down a lot faster than what I’m seeing!"
While benchmark West Texas Intermediate and Brent Crude oil prices have fallen to their lowest levels since Trump launched the illegal US-Israeli war of choice on Iran on February 28, the average price for a gallon of unleaded gasoline in the United States was $3.93 per gallon on Wednesday, around one-third higher than it was the day before the war started but down from a high of $4.52 a month ago, according to the American Automobile Association.
"The price of fuel is not only a national security issue, it impacts the wallet of every American," an unnamed Trump administration official told ABC News on Wednesday following the president's post. "We will always commit to ensuring affordability in this nation."
Responding to Trump's post, US Sen. Sheldon Whitehouse (D-RI) noted on social media that he has a solution for Big Oil price gouging.
In March, Whitehouse and Rep. Ro Khanna (D-Calif.) reintroduced the Big Oil Windfall Profits Tax Act “to curb profiteering by oil companies and provide Americans relief at the gas pump.”
The legislation—which only applies to large oil companies—would impose a per-barrel tax “equal to 50% of the difference between the current price per barrel of oil and the average price per barrel last year, when big oil companies were already earning large profits.”
Democrats in both chambers of Congress have also called for the prosecution of corporations that use the war as a pretext for price gouging.
Polling has shown that Americans largely support a tax on Big Oil windfall profits, which, according to The Guardian, amounted to $23 billion in the first month of the war alone—or $30 million per hour.
NEW: As Americans face rising oil costs, Maine Senate candidate Graham Platner has released an energy plan aiming to “End Big Oil Price Gouging.”We find voters support key elements of the plan, including an oil windfall tax to freeze or lower electricity rates.
[image or embed]
— Data for Progress (@dataforprogress.org) June 18, 2026 at 11:49 AM
Trump has been a staunch supporter of fossil fuel companies. While running for reelection on a "drill, baby, drill" energy platform, he reportedly promised Big Oil executives that he would eviscerate climate regulations enacted by the Biden administration if they gave $1 billion to his campaign.
Fossil fuel interests spent nearly $450 million during the 2024 election cycle on campaign contributions, lobbying, and efforts supporting Republican causes and candidates, including Trump.
As pump prices soared and Americans suffered amid Trump's war, the president—who promised gas under $2 a gallon and no new wars—said that “when oil prices go up, we make a lot of money."
Last week, the Institute on Taxation and Economic Policy estimated that Americans have paid nearly $54 billion extra for gas and fuel—more than $400 per household—than they would have if the war never happened.
From Your Site Articles
- Thanks to Trump's Iran War, Big Oil Raking in $30 Million Per Hour in Windfall Profits ›
- Big Oil Windfall Tax Would Return ‘Egregious’ Iran War Profits to Struggling US Families ›
- Windfall Tax on Big Oil Demanded as Trump's Iran War Pads Profits of Fossil Fuel Giants ›
- Dems Call for Prosecution of Corporations Using Trump's Illegal Iran War as Cover to Hike Prices ›
- New Polling: As Trump’s War Drives Up Energy Prices, Americans Call for Corporate Profiteering Crackdown ›
donald trump
price gouging
us department of justice
sheldon whitehouse
us congress
windfall profits tax
big oil
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.