President Donald Trump renewed his call for oil companies to reduce gasoline prices for American consumers, specifically criticizing Chevron’s Chief Executive Officer Mike Wirth for not acknowledging the administration’s role in supporting the oil industry. Trump made the remarks on his Truth Social platform following Wirth's appearance on Fox News’ “Sunday Morning Futures with Maria Bartiromo.”
Trump asserted that without the “genius, foresight, strength, and stability” of his administration, the oil industry and the United States itself would have faced severe difficulties. He pointed to Chevron’s return to Venezuela as an example of this support, noting that the company was expelled from the country under previous conditions but has now reestablished and expanded its presence. Despite Venezuela’s nationalization of oil projects under former President Hugo Chavez in 2007, Chevron has maintained operations, unlike ExxonMobil and ConocoPhillips, which exited the market.
“The only thing he conveniently forgot to mention is that, without the genius, foresight, strength, and stability, of the TRUMP Administration, the Oil Industry, and our Country itself, would be DEAD!” Trump wrote. He further urged Chevron and other companies to bring consumer fuel prices down immediately.
Chevron did not immediately respond to a request for comment. The company has a long-standing presence in Venezuela, having navigated complex political and economic challenges over more than a century of operations.
The president’s comments come amid rising concerns over high gasoline prices in the United States, which have been driven in part by geopolitical tensions, including the ongoing war involving Iran. These elevated fuel costs have contributed to broader cost-of-living pressures, posing potential political risks for Republicans ahead of the November midterm elections as they seek to retain control of Congress.
Global oil prices saw a decline following Trump’s announcement that he called off a planned “massive attack” on Iran over the past weekend. However, reductions in crude prices have not necessarily translated into lower prices at the gasoline pump for consumers.
Recent financial reports from major U.S. oil companies—including ExxonMobil, Chevron, Valero Energy, and Marathon Petroleum—highlighted how higher crude prices and refining margins since the onset of the conflict in February have strengthened their earnings. The increase in profitability has drawn scrutiny from policymakers and the public amid widespread economic strain.