'Oil prices are plummeting fast': Trump announces July 4 gas discounts in Philadelphia

WASHINGTON, DC: President Donald Trump announced on Wednesday, July 1, that Freedom Fuel Network will reduce gasoline prices at 25 stations across the Greater Philadelphia area on July 3 as part of celebrations marking America's 250th birthday.

Trump said the retailer was "taking the lead" as oil prices continue to decline and called on others to follow suit. The announcement comes as the administration highlights lower energy costs while continuing negotiations with Iran.

Trump announces July 4 gas price cuts

Trump made the announcement in a post on Truth Social, saying that Freedom Fuel Network would lower prices at 25 stations across the Greater Philadelphia area and praising the company for participating in the celebrations.

"Just as I promised, Oil Prices are plummeting FAST, and Gas Prices at the pump are dropping too, but not as fast as they should be. As we approach America's 250th Birthday, I am pleased to announce that a very smart Retailer... is stepping up, and wishing the People of Philadelphia a 'Happy Birthday!'" Trump wrote. 

"On July 3rd, the Freedom Fuel Network will be lowering gas prices at 25 'Freedom Fuel' stations across the Greater Philadelphia Area."

Trump encouraged other fuel retailers to follow the example. "This Retailer is taking the lead, and others should follow. They are doing this because they love the USA," he said.

The president also linked the announcement to Pennsylvania's historical role in the nation's founding. "We are proud to celebrate America's 250th Birthday in the Great Commonwealth of Pennsylvania, the Birthplace of our very special, one-of-a-kind Declaration of Independence," he wrote.

Trump further argued that fuel prices would continue to decline. "America has never been stronger than it is now, and Gas Prices will soon be back to the Record Low Prices Americans enjoyed at the pump before our very successful 'excursion' in Iran."

The announcement follows Trump's earlier calls for gasoline retailers to lower prices immediately, arguing that declining oil prices should translate into lower costs for consumers at the pump.

Oil prices have eased in recent days as markets assessed reduced risks to crude supplies following progress in diplomatic contacts involving Iran.

JD Vance says Iran talks progressing in Doha

Trump's announcement came as Vice President JD Vance said on Wednesday, July 1, that negotiations with Iran in Doha were "going well" and that the administration remains focused on securing a diplomatic agreement during the current ceasefire.

Vance said President Trump remained committed to pursuing a negotiated settlement during the current 60-day ceasefire. "The president is not going to send our military back in unless he has to, unless there's a clearly defined purpose for it," Vance said. 

For now, Vance said the administration's focus remains on diplomacy. "But right now what the president has said is, go and make a deal, go and negotiate in good faith, and that's what he's empowered us to do."

The United States and Iran have been observing a ceasefire since April after weeks of military operations. Both sides are currently working within a 60-day framework established under a memorandum of understanding signed by Trump on June 17.