President Trump will meet Tuesday with U.S. refiners and fuel distributors to discuss increasing refining capacity and lowering pump prices, amid voter concerns about gas costs heading into midterm elections. Nearly half of Americans say cost of living is their top voting issue, with 70% disapproving of Trump’s handling of it, according to a Reuters/Ipsos poll. Wars in Iran and Ukraine have taken about 5 million barrels per day of refining capacity offline, creating a disconnect between crude and pump prices. A deal with Venezuela gives the U.S. majority control of more than 65 billion barrels of oil reserves. The administration will also focus on ensuring that lower costs are being passed on to consumers.
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