Gas is down 60 cents/gallon in a month to $3.93 – But ‘refining capacity is the bottleneck. Since 2020, the U.S. lost significant refining capacity’ – Why? ‘California. Zero new refineries in decades. Fewer operating today than 10 years ago’

Government interference will not lower gas prices. President Trump’s tax cuts, deregulation, and America First energy policies are working. Gas is down 60 cents/gallon in a month to $3.93 according to the AAA. Under Biden in June 2022? $4.94. That’s real money back in your… https://t.co/tPNV3gdD3h

— Steve Forbes (@SteveForbesCEO) June 24, 2026

Here’s the economic reality: refining capacity is the bottleneck. Since 2020, the U.S. lost significant refining capacity — and even after some recovery, we’re still roughly 500,000 barrels/day below the 2019 peak. When utilization drops and inventories tighten, prices rise. The…

— Steve Forbes (@SteveForbesCEO) June 24, 2026

Want the problem in one word? California. Zero new refineries in decades. Fewer operating today than 10 years ago. Billions spent converting and closing plants to abolish fossil fuels — then they wonder why gas is expensive. You cannot strangle supply and expect lower prices.…

— Steve Forbes (@SteveForbesCEO) June 24, 2026

The road to <$3 gas runs through more production, more capacity, and less government interference. Trump’s policies are the engine — let them run. Energy dominance = lower gas prices.

— Steve Forbes (@SteveForbesCEO) June 24, 2026

New Report: Declining U.S. Refining Capacity Threatens American Energy Dominance & Economic Independence