US oil companies see big profit jump, gird for clash over pump prices with Trump
- U.S. oil companies Exxon Mobil and Chevron are expected to report second-quarter profits more than three times higher than in Q1, driven by strong refining margins and high fuel export demand amid global supply disruptions.
- Gasoline prices remain high despite crude oil prices falling back to pre-conflict levels, due to tight inventories, strong export demand, and elevated refining margins.
- The Justice Department is investigating potential gasoline price gouging, and the Treasury Secretary warned refiners of possible further administrative measures if retail prices do not decrease.
- Industry executives argue they have limited control over pump prices, which are shaped by refining costs, transportation, marketing expenses, taxes, and regulations.
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U.S. Oil Giants Head Toward Record Quarterly Profits as Political Pressure Builds Over Fuel Prices
U.S. oil majors are on track to post their strongest quarterly earnings in several years, setting up a potential political clash with President Donald Trump ... The post U.S. Oil Giants Head Toward Record Quarterly Profits as Political Pressure Builds Over Fuel Prices first appeared on [your]NEWS.
Big Oil heads for biggest profits in years as Trump pushes for lower gas prices
America’s biggest oil companies are poised to post their strongest quarterly earnings in years as President Trump ramps up pressure on the industry to lower gas prices ahead of November’s midterms.
US oil companies see big jump in profit
US oil giants are poised for record profits, potentially sparking a showdown with President Trump over high gasoline prices. Despite falling crude oil costs, pump prices remain elevated due to refining and inventory issues. Industry insiders acknowledge the political pressure, as Americans grapple with the cost of fuel ahead of crucial elections. Lobbyists are actively engaging with officials to counter criticism.
Exxon, Chevron profits surge amid Trump's fuel price push
Exxon, Chevron profits surge amid Trump's fuel price push Siya Tsewu Fri, 07/03/2026 - 20:51 U.S. President Donald Trump delivers remarks during a meeting with Finland President Alexander Stubb in the Oval Office at the the White House White House on October 09, 2025 in Washington, DC. U.S. President Donald Trump delivers remarks during a meeting with Finland President Alexander Stubb in the Oval Office at the the White House White…
U.S. oil companies must disclose their largest quarterly profits in years, which can generate a conflict with President Donald Trump, who has been pushing his long-standing ally, the big oil companies, to lower gasoline prices before the mid-term elections in November. After months of American complaints about rising gasoline prices, Exxon Mobil and Chevron must disclose in the coming weeks their second quarter results, which will be more than t…
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