US Treasury warns gas stations to cut prices as oil costs fall

US Treasury Secretary Scott Bessent urged gasoline retailers to lower pump prices following a drop in crude oil prices. This comes after President Trump called for gas prices to fall to around $2.50 per gallon amid easing tensions in the Middle East that had previously driven prices up. Bessent emphasized that retailers have benefited from high oil prices and should now pass savings to consumers. The administration is monitoring prices closely and warns of consequences if retailers do not comply.