Chevron Corp.'s (NYSE:CVX) Chief Financial Officer Eimear Bonner has forecasted a gradual but eventual drop in U.S. gasoline prices as the situation in the Middle East stabilizes.
Bonner, addressing criticism from President Donald Trump, told CNBC on Thursday that energy companies are making every effort to rectify the situation, but warned that it would take time for fuel prices to decrease.
"It's going to take time, though.
There is a lag between…oil prices and reductions in oil prices and when that shows up at the pump, but we expect that prices will come down as things continue to normalize," Bonner said.
The CFO was asked whether large energy companies could do more to bring down gas prices in the short term.
