President Trump Urges Oil Companies to Lower Gasoline Prices Amid Rising Costs from Iran War
President Trump urged U.S. oil companies to lower retail gasoline prices for consumers, criticizing the energy giants for making "too much money" during the Iran conflict. The administration announced that oil prices would drop significantly once the conflict ends, as the administration noted that companies like Chevron and ExxonMobil have seen windfall profits while gasoline prices remain high. President Trump specifically criticized Chevron CEO Mike Wirth for failing to acknowledge the administration's role in supporting the energy industry. He noted that the administration's actions, such as managing the Strait of Hormuz, were vital for the industry's survival. While crude oil prices fell slightly on Monday, the administration remains focused on easing the financial burden on American drivers. The administration also highlighted that while oil companies set prices, the administration's goal is to encourage them to return some of their profits to the public to reduce the cost at the pump.