Trump Demands ExxonMobil and Chevron Lower Gas Prices Amid Windfall Profits

President Trump recently expressed dissatisfaction with the windfall profits of ExxonMobil and Chevron, citing their ability to 'make too much money' due to the global oil shortage.

The two companies announced significant year-over-year gains in revenue and profits for Q2, with ExxonMobil's $14.5 billion in profits more than double its Q2 2025 earnings of $7.1 billion.

Trump called on both companies to 'give some of that back to the public' by cutting consumer gasoline prices, but experts note that their ability to do so is limited by long-term contracts and an interconnected domestic supply chain.

In a statement to reporters, Trump said that once the war in Iran is resolved, oil prices will likely decrease significantly, resulting in lower U.S. gasoline prices.