President Donald Trump said Monday that ExxonMobil and Chevron are making “too much money” off oil prices that have climbed since the war with Iran began, and called on the companies to lower gasoline prices for American drivers.

“They’re making too much money based on a shortage,” Trump told reporters at the White House, urging the companies to “give some of that back to the public.” He singled out Chevron chief executive Mike Wirth by name, saying Wirth had failed to publicly credit the administration’s support for the US oil industry.

The comments followed a run of strong quarterly earnings from both companies. Chevron’s profit rose nearly 400 percent to $12 billion, up from $2.5 billion in the same period a year earlier. ExxonMobil’s profit more than doubled to $14.5 billion over the same stretch. Both companies attributed the gains largely to elevated crude prices tied to the conflict with Iran, which began on February 28, 2026.

Gasoline prices have climbed alongside oil markets. The national average stood at about $4.10 a gallon on Monday, according to data from AAA, nearly 40 percent higher than the $2.98 a gallon drivers paid on February 27, the day before the war started.

Trump’s remarks mark an unusual public break with an industry that has generally supported his administration’s energy policy, including expanded drilling permits and reduced regulation. Neither Chevron nor ExxonMobil issued an immediate public response to the president’s comments. Shares of both companies were little changed in early trading following the remarks, suggesting investors did not expect the criticism to translate into new regulation or a windfall profits tax in the near term.

The exchange adds a domestic economic dimension to a war that has already reshaped global energy markets, with American consumers now facing sharply higher pump prices even as Washington continues to weigh further military and diplomatic steps toward Iran. Analysts said any voluntary price reductions from the oil majors were unlikely without a broader drop in crude benchmarks, since gasoline pricing is set mainly by wholesale markets rather than company decisions.