Trump Targets Exxon and Chevron Over Excessive Gas Price Profits

US President Donald Trump has criticized Exxon Mobil and Chevron for profiting excessively from high gasoline prices. The average price of gas is currently around $4.10 per gallon, up from under $3 before the US and Israeli strikes on Iran earlier this year.

'They're going to give some of that back to the public,' Trump said, emphasizing that the oil giants should reduce retail fuel costs for consumers.

The CEOs of Exxon Mobil and Chevron have warned that limited refining capacity could lead to higher fuel prices throughout the fall. The American Petroleum Institute argues that prices are influenced by global supply, demand, and geopolitical tensions, rather than any single company's actions.