{"id":63966,"date":"2026-06-29T20:08:13","date_gmt":"2026-06-30T00:08:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-pressures-energy-sector-over-pump-prices-suspends-fertilizer-duties\/63966\/"},"modified":"2026-06-29T20:08:13","modified_gmt":"2026-06-30T00:08:13","slug":"trump-pressures-energy-sector-over-pump-prices-suspends-fertilizer-duties","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-pressures-energy-sector-over-pump-prices-suspends-fertilizer-duties\/63966\/","title":{"rendered":"Trump Pressures Energy Sector Over Pump Prices; Suspends Fertilizer Duties"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>President Trump demanded immediate gasoline price cuts<\/strong> and ordered a <strong>Department of Justice (DOJ)<\/strong> investigation into potential price gouging by major oil companies.<\/li>\n<li><strong>A temporary suspension of duties on Moroccan phosphate fertilizer<\/strong> was authorized via executive order to provide relief to U.S. farmers facing high input costs.<\/li>\n<li><strong>Japan&#39;s unemployment rate held steady at 2.5% in May<\/strong>, meeting market expectations, while the jobs-to-applications ratio dipped slightly to <strong>1.17<\/strong>.<\/li>\n<li><strong>Crude <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> have plummeted 36%<\/strong> from their May peak, yet retail gasoline prices have only declined by <strong>14%<\/strong>, fueling administrative frustration.<\/li>\n<\/ul>\n<h2>Trump Issues Ultimatum to Gasoline Retailers<\/h2>\n<p>President Donald Trump issued a stern warning to gasoline retailers on Monday, demanding they slash prices at the pump <strong>immediately<\/strong>. In a series of statements, the President accused &quot;Big Oil&quot; of pocketing savings from falling crude costs rather than passing them to consumers. He specifically directed the <strong>Department of Justice<\/strong> to launch an investigation into the pricing practices of major firms, including Exxon Mobil (<a href=\"\/stock\/XOM\">XOM<\/a>) and Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>).<\/p>\n<p>The administration\u2019s frustration stems from a widening gap between raw material costs and retail prices. While <strong>U.S. benchmark WTI crude<\/strong> has dropped significantly to approximately <strong>$70.45 per barrel<\/strong>, the national average for gasoline remains near <strong>$3.93 per gallon<\/strong>. Trump has indicated that prices should ideally be closer to <strong>$2.50 per gallon<\/strong> following the de-escalation of tensions in the Middle East and the reopening of the <strong>Strait of Hormuz<\/strong>.<\/p>\n<h2>Relief for Agriculture: Moroccan Fertilizer Duties Suspended<\/h2>\n<p>In a move aimed at bolstering the agricultural sector, the White House announced the <strong>temporary suspension of countervailing duties<\/strong> on phosphate fertilizer imported from Morocco. This executive action follows intense lobbying from groups like the <strong>American Soybean Association<\/strong>, who cited tight margins and record-high input costs. Previously, duties on Moroccan phosphate\u2014largely supplied by the <strong>OCP Group<\/strong>\u2014ranged between <strong>16% and 17%<\/strong>.<\/p>\n<p>The suspension is expected to increase domestic supply and encourage competitive pricing for essential nutrients used in corn and soybean production. This policy shift occurs as the <strong>U.S. International Trade Commission<\/strong> continues a broader five-year &quot;sunset review&quot; of these duties. Domestic producers such as The Mosaic Company (<a href=\"\/stock\/MOS\">MOS<\/a>) have historically supported these tariffs, arguing they protect the U.S. industry from unfair foreign subsidies.<\/p>\n<h2>Japan Labor Market Shows Resilience Amid Tight Supply<\/h2>\n<p>Economic data released late Monday showed <strong>Japan\u2019s unemployment rate remained unchanged at 2.5%<\/strong> for the month of May. The figure aligned perfectly with economist estimates and previous readings, signaling continued stability in the world&#39;s fourth-largest economy. The number of unemployed persons in Japan has remained relatively flat as the country continues to grapple with a shrinking workforce and aging population.<\/p>\n<p>However, the <strong>jobs-to-applications ratio<\/strong> saw a marginal decline to <strong>1.17<\/strong>, slightly missing the consensus estimate of <strong>1.18<\/strong>. This ratio indicates there are 117 available jobs for every 100 seekers, reflecting a labor market that remains historically tight despite the slight softening. Analysts suggest that while demand for labor remains robust, the slight dip in the ratio may reflect a cautious hiring sentiment in the manufacturing and retail sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways President Trump demanded immediate gasoline price cuts and ordered a Department of Justice (DOJ) investigation into potential price 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