Trump to convene oil refiners next week amid soaring fuel costs

President Trump is set to host a closed-door meeting with representatives from a minimum of ten oil refining companies on the afternoon of Sept. 1. Participants will range from large integrated firms such as Chevron and Marathon Petroleum to smaller independents like Delek US and PBF Energy. The agenda includes hearing industry perspectives on the current fuel price spike—driven by the Iran conflict—and exploring measures to reduce gasoline costs and boost U.S. refining capability.

Officials note that national gasoline averages have risen to over $4 per gallon and diesel to almost $6 per gallon, pressures that could affect the upcoming mid-term elections. The discussion may also touch on the administration’s recent moves to ease Jones Act restrictions and consider additional Venezuelan crude imports, as well as biofuel-blending quota exemptions under the Renewable Fuel Standard.