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Gasoline prices stick at $4 per gallon as war drags on

President Donald Trump targeted Chevron and ExxonMobil yesterday over second-quarter "windfall profits" of $12.1 billion and $14.5 billion, respectively, urging them to "give some of that back to the public."
The Iran war has sparked months of high gasoline prices by tightening domestic supply after the Strait of Hormuz closed, as U.S. companies shipped petroleum abroad and created "upward pressure" on domestic pump prices.
Oil industry executives are "rattled" by the White House's "growing criticism of the sector," fearing potential crackdowns though the White House has denied plans to cut off American oil exports.
The White House extended a shipping waiver to "keep fuel flowing amid the Iran war," balancing pragmatic supply management against public pressure on oil majors to lower consumer prices.
Critics at The Center for American Progress cite a "history of handouts to the oil industry," while The Washington Post editorialized that rising prices stem from "decisions made in Washington, not by the oil majors.

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The Express Tribune

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Anadolu Ajansı

Center

Iran war hits Americans at gas pumps as conflict drives up energy costs

Gasoline hovers around $4 a gallon as higher fuel prices feed into household budgets

4 days ago·Karachi, Pakistan

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Newsweek

Center

Could Trump profit from the Iran oil windfalls he criticized?

The president has criticized oil firms for making "too much money" since the launch of the Iran war.

4 days ago·New York, United States

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The Week

Lean Left

Is Trump coming for oil industry profits?

President Donald Trump returned to office last year promising to unleash fossil fuels to power U.S. energy production. But the Iran war has sparked months of persistently high gasoline prices, threatening GOP fortunes in the midterm elections, and Trump is now talking about reining in the industry. Oil companies are “making too much money” and should lower gasoline prices, he said to reporters earlier this month. Executives are nervous about a c…

5 days ago·Bath, United Kingdom

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The Hill

Center

Gasoline prices stick at $4 per gallon as war drags on

Gasoline prices have hit record highs for August as the U.S.-Israeli conflict with Iran continues to disrupt supply chains, but experts predict relief within six weeks.

6 days ago·Washington, United States

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