Federal Agencies Urge States to Combat Illegal Gas Price Hikes

WHO:

Fox Business - Associate Attorney General Stanley Wodward Jr. and Federal Trade Commission Chair Andrew Ferguson signed a letter urging state attorneys general to investigate illegal activities contributing to high fuel costs.

Fox Business - President Trump issued a Truth Social post regarding gas prices.

WHAT:

Fox Business - The federal government is urging state attorneys general to probe and prosecute illegal activities contributing to high fuel costs.

Fox Business - The AAA national average price for regular gas was $3.823 as of July 3, down from $4.261 a month ago.

Fox Business - Trump stated, "Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south."

CBS News - Antitrust regulators suggested that state attorneys general could assist in investigating unlawful conduct by companies.

WHERE:

Fox Business - The letter was addressed to state attorneys general across the United States.

WHEN:

Fox Business - Trump made a Truth Social post on June 24 regarding gas prices.

Fox Business - The AAA national average price for regular gas was reported as of July 3.

WHY:

Fox Business - The letter states that recent volatility in crude oil prices does not suspend antitrust laws or state consumer protection laws, and companies are not authorized to manipulate retail prices or collude with competitors.

Fox Business - Trump claimed that customers are being "gouged" and called for the DOJ to investigate.

HOW:

Fox Business - The DOJ and FTC are closely monitoring petroleum markets and urge state law enforcers to investigate illegal practices.

Fox Business - The letter encourages state attorneys general to use all tools available under state laws to investigate and prosecute misconduct causing unjustified price increases.

(UPDATED July 4, 2026 01:30 UTC)

The federal government is taking action against high fuel costs, with Associate Attorney General Stanley Wodward Jr. and Federal Trade Commission Chair Andrew Ferguson urging state attorneys general to investigate illegal activities contributing to these rising prices. In a recent Truth Social post, Trump criticized gasoline retailers for their high prices, stating they must lower them immediately, especially with oil prices now at $68 a barrel. Meanwhile, the AAA reports that the national average price for regular gas has dropped to $3.823, down from $4.261 a month ago, as regulators emphasize that antitrust laws remain in effect despite fluctuations in crude oil prices.