US treasury secretary warns oil and gas companies to lower prices: ‘We’re watching’

Scott Bessent says he ‘encourages them to be good actors’ after Trump ranted about prices not dropping fast enough Scott Bessent, the US treasury secretary, issued a veiled warning to oil and gas companies to lower their prices on Tuesday, a day after Donald Trump berated those retailers on social media for not dropping their prices fast enough and demanded they target $2.50 a gallon. “I would encourage them to be good actors, especially in the 250th anniversary, because we’re watching,” Bessent said in an interview with Fox News on Tuesday morning, addressing big oil, independent and international retailers. Bessent also said that oil companies were probably making “record profits”, and said it was “time to do something for the American people”. Trump shared these sentiments in a Truth Social post on Monday, writing that if retailers don’t drop their prices, “big problems lie ahead”. “Gasoline Retailers must get their Prices down, IMMEDIATELY! They’re too high considering that Oil is now at $68 a Barrel, and heading south. The Retailers must quickly react to this statement, and do what they know is right — DROP YOUR PRICE FOR OUR GREAT AMERICAN PEOPLE