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Trump Blasts Big Oil Firms Over 'Excessive' Profits Amid Gas Price Hikes

Guavy AI Editorial Team
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US President Donald Trump has publicly criticized two of America's largest oil companies, Exxon Mobil and Chevron, over their recent profits. Speaking in the Oval Office, Trump stated that the companies are making 'too much money' due to a shortage, and urged them to lower retail gasoline prices for American consumers immediately.

Trump specifically targeted both firms after they reported strong quarterly earnings on Friday. The average US retail gasoline price has hovered near $4.10 per gallon recently, with prices sitting below $3 before the US and Israel launched attacks against Iran in February.

Executives from both companies warned that limited refining capacity could keep prices elevated through the fall. Trump also criticized Chevron CEO Mike Wirth on social media, accusing him of failing to credit administration policies for the company's record quarter.

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