President Donald Trump met with U.S. oil refiners and fuel retailers on September 1 to discuss ways to increase domestic gasoline and diesel production amid elevated pump prices heading into the midterm elections.

The national average for regular gasoline stood at $4.12 per gallon as of September 2, according to AAA data. That level is roughly $1 higher than prices a year earlier and reflects the impact of the ongoing conflict with Iran that began in late February.

Trump pressed executives during the White House session on expanding refining capacity through regulatory reforms, faster permitting, and additional investments. A White House official said participants aligned on the goal of boosting output to provide relief at the pump.

The administration has also pursued an oil agreement with Venezuela announced last week, which Trump described as a step that would substantially lower gas prices for Americans over the long term. Energy Secretary Chris Wright stated after related discussions that the measures should exert downward pressure on prices in the coming weeks.

Gas prices rose sharply following the start of U.S. and Israeli operations against Iran, with crude oil benchmarks climbing above $110 per barrel at peaks earlier in the conflict before retreating. Current futures for gasoline have traded near $3.14 per gallon in recent sessions.

Trump has emphasized increasing American energy production as a core priority of his second term, including expanded leasing on federal lands and streamlined approvals for drilling permits. These efforts build on actions taken since January 2025 to prioritize domestic supply and reduce reliance on foreign sources.

Polls have shown voter frustration with the cost of living, including fuel expenses, as a factor in Republican prospects for the November midterms. The White House has framed the recent industry engagement and international deals as direct responses to those pressures while maintaining focus on national security objectives in the Middle East.

Industry representatives at the meeting included major refiners such as Valero Energy, Marathon Petroleum, and PBF Energy. Discussions touched on potential adjustments to blending mandates and other policies to support higher output without compromising supply reliability.