Trump Calls on ExxonMobil and Chevron to Cut Fuel Prices

U.S. President Donald Trump has put pressure on ExxonMobil and Chevron to lower fuel prices after both companies reported record profits due to higher crude oil prices.

The conflict with Iran has kept oil prices high, benefiting U.S. oil companies like ExxonMobil and Chevron, which have seen their earnings surge in the second quarter.

Trump accused the two oil giants of making 'too much money' off higher fuel prices and said they should 'give some of that back to the public.'

'Chevron, too much money. ExxonMobil, too much. Too much money,' Trump told reporters on Monday.

The industry has welcomed Trump's policies to expand U.S. energy production, but he has also pressed producers to keep fuel prices low, creating tension between maximizing domestic production and limiting profits when prices rise.