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<\/a><\/p>\nPublished On 3 Aug 20263 Aug 2026<\/p>\n
United States President Donald Trump has again demanded that oil companies lower gasoline or petrol prices for American consumers, slamming Chevron<\/a> for not crediting his administration\u2019s work to assist the oil industry as oil prices continue to rise.<\/p>\n Petrol prices have surged since the February 28 start of the US-Israel war on Iran<\/a>. Trump\u2019s demand for lower prices in the US comes as he faces criticism for launching the war on Iran and for its impact on costs for millions of Americans \u2013 and as November\u2019s midterm US elections draw closer.<\/p>\n Recommended Stories list of 3 itemsend of list<\/p>\n Oil prices dropped five percent on Monday, as Trump told reporters a deal with Iran is imminent and new negotiations are set to start.<\/p>\n Brent crude, the main international benchmark, stood at $82.91 per barrel as of 11:59am GMT on Monday, down five percent from a day earlier and down nearly 18 percent from last month\u2019s peak of $101.<\/p>\n On Monday, Trump criticised Mike Wirth, the chairman and CEO of the multinational oil and gas company Chevron, for not crediting his administration for Chevron\u2019s current performance. He went on to say that Chevron and other oil companies should immediately lower prices, which he has done previously<\/a>.<\/p>\n \u201cThe only thing [Wirth] 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! As an example, they threw Mike and Chevron out of Venezuela, but now they\u2019re back, far bigger and stronger than ever before, expecting to make a fortune!\u201d<\/p>\n \u201cThat goes for other Oil Companies as well\u2026 and get your consumer (retail!) Oil Prices DOWN, NOW!\u201d<\/p>\n \u2018Like a rock\u2019<\/p>\n The president has repeatedly said that fuel prices would \u201ccome down like a rock\u201d after the conflict with Iran ends, but economists have disputed Trump\u2019s assertions and predict longer-term economic repercussions due to the war.<\/p>\n The news of renewed negotiations over the weekend came after Trump called off what he had said would be the \u201cbiggest attack since World War II\u201d on Iran after requests from Qatar, Saudi Arabia and the United Arab Emirates as \u201cperimeters of a deal\u201d had been agreed.<\/p>\n Trump announced on his social media platform Truth Social that those perimeters would include the \u201cImmediate, Complete, and Total OPENING OF THE HORMUZ STRAIT\u201d as well as \u201can end to Iran\u2019s nuclear threat\u201d. He provided no further details regarding the negotiations.<\/p>\n However, Iran\u2019s Foreign Ministry spokesman Esmaeil Baghaei said on Monday that Iranian negotiators are currently only discussing the Strait of Hormuz\u2019s management with Oman, with no talks under way and no planned meetings with the US.<\/p>\n This is not the first time that the two sides have made contradictory statements on the state of negotiations.<\/p>\n