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Chevron has pushed back on expectations for a rapid drop in gasoline prices, with a company official stating the situation will require time to improve, even as President Donald Trump escalates political pressure on the oil industry.
Trump has ordered a federal investigation into Big Oil, accusing energy companies of gouging consumers at the pump.
What "Price Gouging" Means — and Why It Matters Now Price gouging refers to the practice of sellers raising prices to an unreasonable or exploitative level, typically during periods of high demand or constrained supply.
For energy markets, the term carries particular weight because gasoline functions less like a discretionary product and more like a tax on daily life — commuters, logistics companies, and small businesses absorb every cent of the pump price with limited ability to opt out.
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