Chevron CFO says gas prices will normalize after Trump presses big oil - CNBC

Chevron’s Chief Financial Officer recently stated that gas prices are expected to stabilize as the Trump administration intensifies scrutiny of major oil companies over pricing practices. The comments come amid a closed-door meeting where executives from ExxonMobil, Chevron, and ConocoPhillips reportedly informed Trump officials that contributing to a global supply shock.

Despite these warnings, the White House has maintained a public stance that gas prices will decline quickly once regional conflicts ease. However, behind the scenes, administration officials are reportedly exploring executive actions to mitigate the impact on consumers without reversing policies that have exacerbated the situation.

Meanwhile, the Department of Energy has highlighted record U.S. oil and natural gas production, claiming these efforts are helping to lower energy costs and increase energy independence. The administration has also directed the DOJ to investigate oil companies failing to pass on savings to consumers as crude prices decline.

Chevron’s CFO expressed confidence that market forces and policy adjustments will eventually bring prices back to more normal levels, though the timeline remains uncertain given ongoing global uncertainties.