Trump Slams ExxonMobil and Chevron Over Excessive Fuel Profits
US President Donald Trump has unexpectedly turned on two of America's largest oil companies, ExxonMobil and Chevron. Speaking in the Oval Office, he accused them of making excessive profits from elevated fuel prices, claiming 'they're making too much money'.
Trump's remarks mark a rare public rebuke of an industry that has largely supported his energy agenda. He urged the two companies to lower gasoline prices for American consumers, stating they should 'give some of that back to the public.'
The criticism comes as the White House faces mounting pressure over persistently high gasoline prices ahead of the November midterm elections. The average US retail gasoline price has remained around $4.10 per gallon over the past week, compared with less than $3 before the United States and Israel launched attacks against Iran in February.
The administration's measures to cushion consumers from rising fuel costs have had limited success. Reduced Chinese oil imports, the rerouting of Saudi crude through the Red Sea, and releases from the Strategic Petroleum Reserve have all helped limit further increases in gasoline prices.