Scott Bessent, the US treasury secretary, issued a veiled warning to oil and gas companies to lower their prices on Tuesday, a day after Donald Trump berated those retailers on social media for not dropping their prices fast enough and demanded they target $2.50 a gallon.

“I would encourage them to be good actors, especially in the 250th anniversary, because we’re watching,” Bessent said in an interview with Fox News on Tuesday morning, addressing big oil, independent and international retailers.