President Donald Trump stated that ExxonMobil and Chevron made 'too much money' from rising oil prices due to the Iran conflict. 'They're making too much money based on a shortage,' he said.
Both companies reported record profits for the second quarter, with Chevron's earnings soaring nearly 400% to $12 billion, while Exxon's profits more than doubled to $14.5 billion.
Trump demanded that the companies give some of that back to the public and cut retail prices. 'They better cut the retail price, the consumer price,' he added.
U.S. crude oil prices have gained about 20%, while gasoline prices averaged $4.10 per gallon.
