Vice President JD Vance and top Trump administration officials are set to meet Thursday with oil industry leaders as the White House moves to address rising fuel prices following the recent U.S. strike on Iran, according to sources familiar with the plans.
The meeting, expected to take place at the American Petroleum Institute, will include members of the powerful trade group's board, sources who spoke on condition of anonymity, told Bloomberg.
"We look forward to convening key officials — including Vice President Vance, Energy Secretary [Chris] Wright, bipartisan leaders in Congress and governors — to discuss the role of American oil and natural gas in supporting reliable energy supply amid global volatility," Andrea Woods, a spokeswoman for the Washington-based group, said in a statement.
"Our industry is focused on providing insight into market dynamics and strengthening American energy leadership and resilience for the long term," Woods said.
Newsmax reached out to the White House for comment but did not receive an immediate response.
The high-level talks come as President Donald Trump faces mounting pressure to rein in fuel costs, a key concern for American families already grappling with inflation. With November's midterm elections approaching, the cost of living is expected to be a decisive issue, and recent polls suggest the president's economic stewardship remains under scrutiny.
Oil prices have surged since the conflict with Iran began last month, with disruptions in the Strait of Hormuz raising alarms about global supply. The strategic waterway typically accounts for roughly 20% of the world's seaborne oil shipments, along with significant volumes of liquefied natural gas.
Shipments of refined fuels — including gasoline, diesel, jet fuel, and other petroleum products — have also been affected, adding further strain to energy markets.
Analysts say the administration's options to quickly lower prices are limited. The White House has already authorized the release of 172 million barrels from the U.S. Strategic Petroleum Reserve as part of a broader international effort totaling 400 million barrels.
On Wednesday, Trump took executive action to ease transportation costs by waiving a century-old shipping requirement and allowing foreign-flagged vessels to move certain goods between U.S. ports for the next 60 days — a move aimed at boosting supply and easing price pressures.
Nicole Weatherholtz ✉
Nicole Weatherholtz, a Newsmax general assignment reporter covers news, politics, and culture. She is a National Newspaper Association award-winning journalist.
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