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Gas Prices Climb as Oil Companies Report Soaring Profits
AAA said regular gas averages $1 more than a year ago, while Chevron and ExxonMobil reported more than $26 billion in quarterly profits.
- Drivers in the United States are paying more at the gas pump today, while Chevron and ExxonMobil report substantial profit increases in WASHINGTON.
- Since the war in Iran began, The Strait of Hormuz has been choked off, causing a drop in global oil supply that raises prices everywhere, even though the United States does not rely on the region.
- Data from the Facts Data Team shows the American Automobile Association reported regular gas averages are $1 higher than last year, with drivers seeing increases of almost $1.50 for regular and over $2.50 for diesel over 16 years.
- Chevron and ExxonMobil reported more than $26 billion in collective second-quarter profits this year; Chevron made five times more than in 2025, while ExxonMobil more than doubled its profits.
- Rising prices have allowed oil producers, including Chevron and ExxonMobil, to sell products at higher prices, as the industry has seen unusually large refining profits since the war began.
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20 Articles
Coverage Details
Total News Sources20
Leaning Left1Leaning Right0Center19Last UpdatedBias Distribution95% Center
Bias Distribution
- 95% of the sources are Center
95% Center
C 95%
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