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Big Oil Heads for Record Profits as Trump Turns Up the Heat on Gas Prices

Investing.com·
Big Oil Heads for Record Profits as Trump Turns Up the Heat on Gas Prices

Big Oil companies are set for record Q2 profits due to crude price spikes from Strait of Hormuz disruption, with Exxon and Chevron earnings expected to triple. However, President Trump is demanding gasoline prices drop to $2.25-$2.50 per gallon and has launched price-gouging investigations, creating political pressure despite industry claims that pump prices lag crude declines due to low inventories and refining economics.

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