Trump says oil companies should cut gas prices after making "too much money"
Summary
President Trump criticized major U.S. oil companies like Chevron and ExxonMobil for making large profits while gasoline prices remain high. He urged these companies to lower gas prices to help consumers, especially as oil prices have been affected by the Iran conflict.Key Facts
- President Trump said oil companies have "made too much money" from high oil prices.
- He specifically named Chevron and ExxonMobil, urging them to reduce gas prices.
- Gasoline prices in the U.S. are above $4 per gallon, up from about $3 before the Iran war.
- Brent crude oil price recently fell by over 4% to around $84 per barrel amid hopes for peace progress.
- About half of Americans say high fuel prices are causing financial problems, per a CBS News poll.
- Oil companies do not directly set gas prices; oil costs, refining, and transport all affect prices.
- President Trump predicted oil prices will fall sharply after the Iran conflict ends.
- ExxonMobil and Chevron did not immediately respond to requests for comments on the criticism.
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