BEDMINSTER, New Jersey — President Trump said Saturday that he persuaded the king of Saudi Arabia to increase oil production in an effort to lower gas prices in the U.S.
“Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference…Prices to[o] high! He has agreed!” Mr. Trump tweeted from his private golf club in New Jersey.
As the summer driving season moves into high gear, retail gasoline prices have been as high as $2.96 a gallon, according to the Energy Information Administration. That’s about 24 percent higher than a year ago.