Trump urges Chevron and peers to lower pump prices immediately
Trump demanded immediate retail price cuts from Chevron and other oil companies after the company reported record quarterly profits.
U.S. President Donald Trump urged Chevron and other major American oil companies to cut retail fuel prices, saying the industry should pass a portion of its profits to consumers.
In a post on Truth Social, Trump praised Chevron's results but insisted the company and its peers must lower pump prices.
He framed the demand as immediate and pointed
“This also applies to other oil companies... And reduce the price of oil for consumers (retail) immediately!” Trump wrote on his platform.
The message came after Chevron reported a record quarterly net income of 10.34 billion euros (12.1 billion dollars) on Friday, a figure critics cite as evidence that large energy firms have benefited from global supply disruptions tied to the war with Iran.
Chevron CEO Mike Wirth warned that rising tensions with Iran and Houthi attacks on Saudi energy infrastructure have raised the prospect of further interruptions to global oil supplies. “We now see that not only the Strait of Hormuz, but also the Red and the Black Sea carry risks and uncertainties. Thus, some of the challenges have expanded, and the risks to supply are very real,” Wirth said in an interview with Fox News.
At the same time, the average national price of gasoline in the United States currently stands at 4.10 dollars per gallon (3.8 litres), while premium fuels and diesel can top five dollars, adding to the political pressure on energy companies and elected officials.
Photo: press material from the event
