Trump Urges Boost in Refinery Capacity

U.S. President Donald Trump is increasing his calls to boost refining capacity in the United States with the aim of lowering gasoline prices, believing that this will reduce costs. However, reports indicate that building new refineries or expanding existing ones takes many years, as no new refinery has been constructed since 1977, and expansion projects typically require years before they contribute to fuel production and price reduction. Additionally, despite a decline in the number of refineries, gasoline supplies are currently abundant, and gasoline prices have reached record levels due to high demand and production costs—especially amid weak global supplies and refinery damages caused by conflicts and military actions. This makes increasing current refining capacity unlikely to improve gasoline prices in the near term.

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