United States President Donald Trump has criticized the nation's largest oil and gas companies, Chevron and ExxonMobil, for reporting substantial profits while consumers face rising petrol prices.

Trump's comments came as Houston-based Chevron announced its highest quarterly earnings in six years, with adjusted earnings per share reaching $6.06, totaling $12 billion. This surge in profits occurred against a backdrop of global oil supply chain disruptions, exacerbated by the ongoing conflict with Iran, which has kept oil prices elevated for months.

"I don't like it," Trump stated regarding the blockbuster second-quarter earnings, directly referencing the high oil prices. He specifically named Chevron and ExxonMobil, saying they were making "too much money." The President also used his Truth Social platform to criticize Chevron CEO Mike Wirth, suggesting Wirth failed to acknowledge the role of the Trump administration in supporting the oil industry.

Chevron's robust financial performance is partly attributed to its reduced reliance on Middle Eastern production. With approximately one-fifth of the world's energy supply previously passing through the Strait of Hormuz, tensions in the region significantly impacted prices. However, Chevron's strategic positioning, with less than 5 percent exposure to operations directly affected by the Strait of Hormuz, provided a degree of protection.

"Being less dependent on the Strait of Hormuz is definitely helping them. It's also the refining they're able to do here," explained Bill Drolet, executive director of mergers and acquisitions at The Post Oak Group investment bank. He added that over 70 percent of Chevron's production is concentrated within America, where the company is currently achieving its highest profit margins.

In addition to its strong financial results, Chevron announced that most of its workers would receive a bonus equivalent to half their monthly base pay, a move attributed to employee efforts. This bonus distribution was reported by Reuters, citing an internal email, though Al Jazeera has not independently confirmed this detail.

The broader economic impact of high petrol prices is particularly felt by low-income households in the US, who are now dedicating more than 10 percent of their monthly income to fuel costs. This situation creates a stark contrast between consumer struggles and the record profits reported by major oil corporations.

Chevron also reportedly benefited from the President's decision to open up oil production in Venezuela, a move that could further bolster its output and profitability in the coming quarters.