STOCKS | Trump Meets Refiners at White House to Push Higher Fuel Output

U.S. President Donald Trump held a closed-door meeting at the White House on September 1 with executives from nearly 10 refining and fuel distribution companies, including Marathon Petroleum, Valero Energy, PBF Energy, and Delek, to discuss expanding domestic refining capacity, speeding project permits, and lowering fuel prices. According to Sina Finance, White House officials said Trump explicitly asked for lower pump prices and pressed executives on how to raise refining capacity. The meeting also covered regulatory changes, faster permit approvals, and additional investment. According to Sina Finance, the White House said U.S. refineries are currently operating near full capacity and urgently need expansion. The American Automobile Association said on September 1 that the national average price for regular unleaded gasoline was $4.10 per gallon, while diesel averaged $5.63 per gallon. According to Sina Finance, the Energy Information Administration said refinery utilization rose to 97.4% in late August, the highest level in nearly eight years. According to Sina Finance, some refinery executives pointed to mandatory blending quotas under the Renewable Fuel Standard as a factor pushing up pump prices. The White House also discussed using regulatory changes, faster permitting, and new investment to expand capacity, and said Jones Act waivers had been used to ease short-term transport bottlenecks. The article also said the White House had recently announced a Venezuela oilfield arrangement involving North America Blue Energy Partners, and that officials asked how U.S. refineries could process more Venezuelan crude. According to Sina Finance, no written agreement was reached at the meeting.