Trump Targets ExxonMobil and Chevron Over 'Excessive' Profits

US President Donald Trump has criticized oil giants ExxonMobil and Chevron for earning excessive profits from high fuel prices. Speaking to reporters, he called on the companies to reduce consumer costs, saying that 'Chevron is making too much money. ExxonMobil is too. Too much money.'

The comments mark a shift in Trump's traditionally close relationship with the oil industry. He has repeatedly used public pressure to influence corporate decisions, including pressuring automakers and pharmaceutical companies.

Trump credits his policies for supporting the oil sector, saying that 'without the genius, foresight and stability of the Trump administration, the American oil industry would be dead.'

The president's comments come as global crude oil prices declined after he canceled a planned military operation against Iran. However, retail gasoline prices have not adjusted yet, remaining around $4.10 per gallon - over 30% higher than when military operations began.