On Monday local time, the US White House confirmed that US President Trump will meet with oil company executives on Tuesday. The core topic of the talks is to discuss possible measures aimed at lowering the retail price of gasoline and increasing US refining capacity. With only two months left until November's midterm elections, the Trump administration aims to respond to voters' dissatisfaction with the high cost of living. Sources revealed that Trump plans to meet with the heads of more than 10 refining companies and fuel distribution companies, including Chevron, Marathon Petroleum, and Valero Energy. Despite the huge total refining capacity and sufficient supply of crude oil raw materials in the US, it is still impossible to isolate the impact of the near-discontinuation of flights in the Strait of Hormuz. According to data from the American Automobile Association, the average price of gasoline in the US this month was about 4.08 US dollars/gallon, compared to 3.19 US dollars/gallon in the same period last year. As a result, August of this year became the highest gasoline price in US history.

On Monday local time, the US White House confirmed that US President Trump will meet with oil company executives on Tuesday. The core topic of the talks is to discuss possible measures aimed at lowering the retail price of gasoline and increasing US refining capacity. With only two months left until November's midterm elections, the Trump administration aims to respond to voters' dissatisfaction with the high cost of living. Sources revealed that Trump plans to meet with the heads of more than 10 refining companies and fuel distribution companies, including Chevron, Marathon Petroleum, and Valero Energy. Despite the huge total refining capacity and sufficient supply of crude oil raw materials in the US, it is still impossible to isolate the impact of the near-discontinuation of flights in the Strait of Hormuz. According to data from the American Automobile Association, the average price of gasoline in the US this month was about 4.08 US dollars/gallon, compared to 3.19 US dollars/gallon in the same period last year. As a result, August of this year became the highest gasoline price in US history.