Trump: Gas prices are up and OPEC ‘doing little to help’

A flame from a Saudi Aramco oil installation known as “Pump 3” is seen in the desert near the oil-rich area of Khouris, 160 kms east of the Saudi capital Riyadh. (AFP FILE PHOTO/MARWAN NAAMANI

WASHINGTON — President Donald Trump said the Organization of the Petroleum Exporting Countries (OPEC) is “doing little to help” rising gas prices and claims “if anything, they are driving prices higher.”

Trump tweeted Wednesday: “The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!”

Last month, members of the OPEC cartel agreed to pump 1 million barrels more crude oil daily, a move that should help contain the recent rise in global energy prices.

However, summer months in the United States usually lead to increased demand for oil, boosting the price of gasoline in a midterm election year.   /kga