US President Donald Trump on Monday called on major oil companies to lower gasoline prices, arguing that the recent decline in crude oil costs should be reflected at the pump, while singling out Chevron Chairman and Chief Executive Mike Wirth in a fresh public rebuke over the company's performance,
In a post on his Truth Social platform, Trump accused Wirth of highlighting Chevron's strong business performance during a television interview without acknowledging what he claimed was the role of his administration in strengthening the US energy sector.
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"Mike Wirth... gave all of the reasons that his company is doing so well," Trump wrote, adding that the executive failed to credit the "strength and stability" of the Trump administration, which he said had helped revive the American oil industry.
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Trump also pointed to Chevron's return to operations in Venezuela as an example of what he described as his administration's success in creating opportunities for US energy companies.
He urged oil producers to ensure those gains benefit consumers, saying they should "get your consumer (retail!) oil prices down, now."
The remarks come as fuel prices remain a politically sensitive issue in the United States ahead of the November midterm elections, with inflation and the cost of living continuing to influence voter sentiment.
Trump's comments also follow a recent decline in global crude oil prices after he postponed a planned military strike against Iran in favour of pursuing diplomatic efforts.
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However, lower crude prices typically take time to filter through to retail gasoline prices because of factors such as refining costs, transportation expenses, taxes and regional market dynamics.
Chevron, Exxon Mobil, Valero Energy and Marathon Petroleum recently posted strong quarterly earnings, benefiting from elevated crude prices and healthy refining margins that boosted profitability even as motorists continued to pay higher prices at the pump.
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