WASHINGTON DC. WA, August 28, 2026 — President Trump to Meet U.S. Refiners Over Rising Gas Prices Next Week. This meeting takes place at a time when the conflict with Iran is still disrupting energy markets across the globe. Meanwhile, House Republicans are defending narrow congressional majorities in the November midterms.
Refiners Including Valero Expected to Be in Attendance
Two sources said attendees will include Valero Energy, Marathon Petroleum and PBF Energy. The sources also said major fuel retailers are expected to attend the meeting. The White House has not provided a definitive list of those attending.
The call was for a meeting the releases will be late to highlight administration efforts ahead of November to ease pump prices. Officials also hope that a visible engagement from business and industry leaders would harden voters concerned about household costs. The meeting is still being finalized, according to people familiar with the plans.
Refiners have come under criticism for posting large profits as the war squeezed fuel supplies. Some company executives have said that much of the gain was driven by supply disruptions, not intentional pricing moves. Both sides of what is causing prices to surge are expected to be addressed in the meeting.
Gas Prices Still A Political Hazard
U.S. regular gasoline remains above $4 a gallon, about $1 higher than last year at this time. The increase could threaten Trump’s promise to lower living costs ahead of the 2024 election. His approval rating has slipped to 33%, according to polling data.
Only 31 percent of Americans approve of the war with Iran as an ongoing conflict according to the same polling. In November, Republicans are defending slim majorities in the House and Senate. Escalating gasoline prices have rounded out a sizable number of favored viewers in advance as you.
Candidates for the Democratic nomination have focused on gas prices in campaign materials around competitive districts across the country. Jenna Ellis, a senior legal adviser to Trump, suggested in a recent interview that the administration wishes visible action could dull some of that criticism. It is also something that both parties see as at the heart of the final phase of the midterm campaign.
Prices surged due to Strait Of Hormuz disruption
The war that started on 28 February stopped shipping through the Strait of Hormuz. Before the conflict began, about one fifth of world oil passed on that route. Earlier this year, oil prices rose as much as $112 a barrel.
Crude prices have since fallen back somewhat as shipping through the strait has resumed, albeit only partially. Still, however, pump prices for gasoline have remained high when the year-ago level is taken into consideration. Analysts say that retail prices have not fallen as rapidly with crude maybe due to constraints on refining capacity.
Energy markets continue to respond to new threats or reductions in hostilities regarding the Iran conflict. Traders continued to monitor shipping traffic passing through the strait for signs of renewed disruption. Any new turmoil could reverse the small falls made by global crude prices recently.
Trump warns industry as profits increase
And there was even significant second-quarter profitability reported by major refiners that, in the face of a war that broke global gasoline supplies. Trump has called on producers to reinvest those receipts by lowering the burden they pass on to consumers. In the meantime, the U.S. Energy Information Administration tracks average national gas prices.
The president has made the case that corporations reaping record high profits from higher prices brought by war should help bear the cost. Industry officials rebutted that pump prices are mainly driven by global crude oil benchmarks, not corporate decisions. The disagreement is expected to be a major topic of discussion at next week’s meeting, as detailed in energy policy analysis.
The White House claims the administration is still looking into further options to alleviate energy costs. Those options are said to include possible changes to fuel reserves and relief from regulations for refiners. Final decisions have yet to be made ahead of next week’s meeting with industry chiefs.
