Trump urges oil companies to cut retail fuel prices

US President Donald Trump on Monday called on Chevron and other major oil companies to lower retail fuel prices for consumers, saying the industry should pass its gains on to Americans, Anadolu reports.

In a Truth Social post, Trump praised Chevron’s performance but urged the company and the broader oil industry to reduce prices at the pump.

“That goes for other Oil Companies as well…and get your consumer (retail!) Oil Prices down, now!” Trump said.

His remarks came after Chevron posted a record quarterly net profit of $12.1 billion on Friday, underscoring how major oil companies have benefited from global supply disruptions triggered by the Iran war.

Chevron CEO Mike Wirth cautioned that escalating tensions with Iran and Houthi strikes on Saudi energy infrastructure have heightened the risk of a new disruption to global oil shipments.

“We now see, not only the Strait of Hormuz, but the Red Sea and the Black Sea have risks and uncertainties. So, some of the challenges have expanded, and the risks to supply are very real,” Wirth told Fox News on Sunday.

READ: Trump postpones Iran escalation following Gulf diplomatic pressure: Reports