Trump Slams Exxon and Chevron for ‘Excessive Profits’ – U.S. Gas Prices Top $4

U.S. President Donald Trump has taken aim at the quarterly earnings of two energy giants, demanding that the windfall be passed on to consumers.

The President’s Fierce Rebuke

In a press briefing at the Oval Office, Trump singled out Chevron and Exxon Mobil, stating they are “making too much money” and insisting that part of those profits should be returned to the public.

Jaw‑Dropping Profit Surge

■Exxon Mobil reported $14.5 billion net profit for Q2, more than double the $7.1 billion a year earlier – a 104% increase.

■Chevron posted $12.1 billion profit, up from $2.5 billion in the same quarter last year – a 384% jump.

■Both firms now generate earnings well above the 2025 industry average.

Shockingly High U.S. Gasoline Prices

■The national average gasoline price reached $4.09 per gallon, a 30% rise from $3.15 a year ago.

■Diesel climbed to $5.37 per gallon, up 44% from $3.73 a year earlier.

■API spokesperson Andrea Woods attributed the price surge to global supply‑demand dynamics and ongoing uncertainty in the Strait of Hormuz.

Market and Policy Implications

■Regulatory Risk: Trump’s remarks could fuel congressional pressure for price controls or new tax measures targeting big oil.

■Equity Volatility: Following the earnings releases, Exxon (+2.3%) and Chevron (+1.9%) shares posted modest gains, but political pressure may introduce longer‑term volatility.

■Energy Policy Debate: Elevated fuel costs may prompt the Biden administration to reassess its renewable‑energy transition timeline.

Markets are watching Trump’s hard‑line stance on major oil firms closely, weighing short‑term stock swings against the risk of regulatory headwinds. The hefty profits of Exxon and Chevron, when paired with consumer price pressure, could spark a fresh debate over the profit‑price equilibrium in the energy sector, reshaping liquidity flows and investor risk appetite both domestically and globally.