Trump Demands Oil Giants Cut Gas Prices Amid High Profits

US President Donald Trump has called on oil giants ExxonMobil and Chevron to cut gasoline prices, arguing that their rising profits should be shared with consumers facing higher costs at the pump.

In a statement from the Oval Office, Trump said, 'They made too much money.'

The demand follows strong second-quarter earnings across the energy industry. ExxonMobil and Chevron benefited from higher crude prices and refining margins due to disruptions in shipping caused by the Iran conflict.

The national gasoline average has reached around $4.10 a gallon, more than 30 percent above its pre-conflict level, according to Reuters.