Trump Demands Oil Companies Pass Gains On To Consumers Amid Record Profit

US President Donald Trump has urged major oil companies to lower retail fuel prices for consumers. In a post on his Truth Social platform, Trump praised Chevron's performance but called on the company and others in the industry to reduce prices at the pump.

Chevron recently posted a record quarterly net profit of $12.1 billion, which Trump said was due to global supply disruptions triggered by the Iran war. However, Chevron CEO Mike Wirth cautioned that escalating tensions with Iran and Houthi strikes on Saudi energy infrastructure have heightened the risk of a new disruption to global oil shipments.

Trump's remarks came after Wirth told Fox News that 'some of the challenges have expanded, and the risks to supply are very real' due to the increased risks in various seas. Trump urged Chevron and other oil companies to pass their gains on to consumers by lowering retail fuel prices.