Trump criticizes companies for making ‘too much money’ and demands lower gas prices

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestylePresident Donald Trump accused major oil companies ExxonMobil and Chevron of making "too much money" from high fuel prices and demanded they "give some of that back to the public" by lowering consumer costs.Trump's remarks followed the companies' reports of significant second-quarter earnings, which he attributed to the ongoing conflict in Iran, and align with his history of using public pressure to influence corporate behavior.He specifically criticized Chevron CEO Mike Wirth on Truth Social for not acknowledging his administration's role in supporting the oil industry, despite Chevron's long-standing operations in Venezuela.The American Petroleum Institute countered that high prices are driven by global supply, demand, and geopolitical uncertainties, not individual companies, while Trump emphasized the political risk of high gas prices for Republicans in upcoming midterm elections.Retail gasoline prices average around $4.10 nationwide, a 30% increase since the U.S. and Israel attacked Iran earlier this year, contributing to strong quarterly profits for companies like Valero and Marathon Petroleum alongside ExxonMobil and Chevron.In fullTrump renews call for oil companies to cut gas prices as he blasts Chevron CEOMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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