Trump calls oil executives to White House over price gouging claims

President Donald Trump is set to host top executives from major U.S. oil and refining companies at the White House.

President Donald Trump is set to host top executives from major U.S. oil and refining companies at the White House. The meeting sets the stage for a high-stakes showdown between the administration and the industry.

It comes after sharp accusations that refiners are profiting off Americans while gas prices stay stubbornly above $4 a gallon. The tension stems from a wide gap between falling crude oil costs and the prices drivers still see at the pump.

Gasoline prices spiked earlier this year following economic shocks tied to the conflict with Iran. Crude prices have since dropped sharply from their peak. Even so, three of the largest U.S. refiners posted a combined $12.6 billion in second-quarter profits.

That gap prompted Trump to call out the industry publicly. He demanded a Department of Justice investigation into possible price gouging. He also challenged companies to use their record earnings to help bring fuel costs down.

The hastily arranged meeting has put industry leaders in a tricky position. Some see it as a rare chance to lobby the administration directly on issues like biofuel policy and the Jones Act. Others worry it could turn into another unpredictable White House clash.

Executives expected in the room include representatives from Marathon Petroleum, Valero Energy, PBF Energy, Delek US Holdings, and Chevron. Notably absent is the nation’s third-largest refiner, reportedly left off the guest list. That’s said to stem from lingering tension after its CEO clashed with Trump over foreign investment matters.

The White House insists the meeting’s real focus is pushing for quick, concrete steps to boost domestic refining capacity. Officials argue the U.S. refining system is now running at nearly full capacity, leaving little margin for error.

As part of the plan, the administration wants to increase crude flows, including supplies from Venezuela, to help bring down costs for consumers. Officials also blame years of past policy decisions for refinery closures and reduced investment in new facilities.

A White House official said the administration is focused on near-term steps to expand capacity. The ultimate goal, officials say, is bringing gasoline prices down for everyday Americans.