Trump demands that ExxonMobil and Chevron reduce oil prices
2026-08-04 21:42:11
According to CoinMeta, President Trump on Monday demanded that ExxonMobil and Chevron reduce retail gasoline prices, after these two companies had reaped huge profits due to the Iran war. He stated, “They made too much money in a time of shortage, and I don’t like that.” Trump insists that oil companies must return these profits to consumers, saying, “They must give back a portion to the public, and it would be best if they also lower retail prices.” According to Bloomberg data, ExxonMobil and Chevron’s total profits in the second quarter reached $29 billion, more than three times that of the same period last year. Chevron’s profit was $12 billion, an increase of nearly 400% from $2.5 billion in the same period last year. ExxonMobil’s profit rose from $7.1 billion to $14.5 billion. The average price of U.S. crude oil futures in the second quarter was about $92 per barrel, up about 27% from the first quarter. Nationwide, the price of regular gasoline on Monday was about $4.10 per gallon, an increase of nearly 40% from $2.98 on February 27.
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Source:Internet
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