Trump Slams Oil Companies Over Record Profits Amid Soaring Gas Prices

Oil companies are reporting record profits due to higher crude oil prices, but President Trump is accusing them of price gouging and demanding they lower gasoline prices instead. The war in Iran has affected global oil supplies, leading to increased costs for crude oil, which has boosted earnings for energy giants. As a result, gas prices have risen to over $4 per gallon in Florida, with some stations charging as much as $5 or more. Trump says the companies are making 'too much money' and that consumers are being hurt by their profits.

Florida's gas prices have been among the highest in the country since April 2026, when they reached over $4 per gallon. The increase is largely due to the war in Iran, which has reduced global oil supplies and driven up crude oil costs. While some critics argue that higher profits are a natural result of market forces, Trump's demand for lower gasoline prices suggests that he believes price gouging is occurring.