Trump Takes Aim at Big Oil Over Gas Price Hikes
President Donald Trump has publicly criticized two of America's biggest oil companies, Exxon Mobil and Chevron, for their recent profits. In an Oval Office briefing on Monday, Trump stated that both firms 'ought to give some of [their] money back to the public' due to high gas prices.
The average U.S. retail gasoline price has hovered near $4.10 per gallon recently. Prices dropped below $3 before the United States and Israel launched attacks against Iran in February, according to the source.
Trump specifically targeted Exxon Mobil and Chevron after they reported strong quarterly earnings on Friday. He also took aim at Chevron CEO Mike Wirth on social media, accusing him of failing to credit administration policies for the company's record quarter.
The American Petroleum Institute attributed higher prices to 'global supply, demand and continued uncertainty around the Strait of Hormuz.'