Bessent Warns Gas Stations to Drop Prices as Treasury Eyes “Bad Actors”
Treasury Secretary Scott Bessent is warning gas stations to lower prices but the move comes as fuel costs surged during the Iran conflict.
According to Fox Business, Bessent said the Treasury Department will “keep retail gas stations honest” after prices spiked during global oil supply fears. He suggested stations that raised prices quickly should bring them down just as fast.
The pressure follows a sharp rise in gas prices tied to the Iran war and disruptions in the Strait of Hormuz, which pushed inflation higher and strained household budgets. Reuters reported gas costs jumped enough to drive the largest inflation spike in years.
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Bessent also signaled that President Donald Trump is watching closely and could publicly call out companies seen as overcharging.
But officials say the expectation is prices will begin falling as supply stabilizes—raising new questions about how quickly relief will actually reach consumers.
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