Trump Pressures U.S. Oil Refiners to Boost Fuel Output as Prices Rise

President Donald Trump pressed US oil refiners to boost domestic gasoline and diesel production during a closed-door meeting, as he confronts high fuel prices and mounting cost-of-living concerns ahead of November's midterm elections, Jennifer A. Dlouhy and Elizabeth Elkin reported for Bloomberg News.

President Donald Trump met with US oil industry executives as his administration seeks ways to increase fuel supplies and bring down gasoline and diesel prices. (Photo: Rifleman 82, Wikimedia Commons)

Trump made clear that he wants lower gasoline prices at the pump and asked executives how refining capacity could be increased, according to a White House official who provided details on condition of anonymity.

The official said industry representatives were aligned with that goal and that the discussion touched on regulatory changes, faster permitting and additional investment.

The meeting underscored the political pressure facing Trump, who campaigned on reducing energy costs but is now dealing with higher fuel prices amid the war with Iran.

US fuel prices are at their highest seasonal level on record, with gasoline averaging more than $4 a gallon and diesel nearly $6 a gallon nationwide, according to the American Automobile Association.

Refining executives also pressed Trump on federal biofuel-blending requirements, arguing that mandates requiring refiners to blend alternative fuels into gasoline are contributing to higher pump prices.