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Trump boasts oil companies are making 'a freaking fortune' while Americans pay $4.29 a gallon

Morgan Taylor
Mon, October 26, 2026 at 1:47 PM EDT
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With regular gas averaging $4.29 per gallon nationwide, President Donald Trump used a rally in Georgia to highlight soaring profits for U.S. oil and gas companies.

While drivers contend with high prices at the pump, Trump pointed to producers in states such as Texas, Oklahoma, and Louisiana as major beneficiaries of global supply disruptions.

Here's what to know
According to Business Insider, Trump said Saturday that turmoil in the Strait of Hormuz has pushed oil prices higher by steering buyers toward American producers.


"The United States oil and gas business is making hundreds of billions of dollars," he said.

In its second-quarter report, Oil & Gas Journal likewise tied major gains for North American oil companies to "surging crude prices tied to ongoing Strait of Hormuz disruptions," per Business Insider.

Oil & Gas Journal said 38 U.S. producers and refiners together upped year-over-year revenue by $140 billion.

On Monday, regular gas averaged $4.29 per gallon nationwide, compared with $2.98 in February.

"I don't give a damn, I'm going to say it: We're making a freaking fortune," Trump said, according to Business Insider.

More background
The national average for diesel reached $6.35, per AAA, up from $3.75, as the publication noted.

Because shipping companies use diesel in trucks and boats, higher fuel costs are often passed along to consumers through pricier deliveries and goods.

The remarks came as voters confront an affordability crunch. The White House did not respond to Business Insider's request for comment Sunday.

Oil and gas use pollutes air and water and is linked to asthma, heart disease, cancer, and premature death. Dependence on these fuels can also leave households exposed to high energy costs, whereas more abundant sources of energy such as sunlight and wind are much cleaner and can lower costs. Industry lobbying has slowed the transition to cleaner, less expensive energy solutions that could better protect public health and reduce costs.

What's being done?
"On Oct. 9, Trump said he reached a deal with Russian President Vladimir Putin to import Russian diesel, which had been heavily sanctioned since the start of Russia's invasion of Ukraine," Business Insider reported. "Analysts warned the move could provide a lifeline to the Russian economy as the country seeks to bombard Ukraine into submission this winter."

Trump acknowledged the tension at the rally.

"I can see just the fake headlines: 'President Trump is talking about all the money they're making while people are suffering at the pump,'" he said, according to Business Insider.

Where can I learn more?
These stories track rising gas and diesel prices and the political fallout around them.

• After Iran strikes, U.S. drivers watched gas jump to $4.27 as Trump promised relief.

• In Massachusetts, drivers paid more while U.S. gas stayed above $4 every day in August.

• In South Texas, a gas surge strained budgets so sharply that drivers weighed fuel against groceries.

• In Florida, AAA warned that after gas topped $4 again, it could keep climbing to $4.19.

They don't give a damn about anything he says or does mac. He could berate a woman as she's being assaulted by his supporters while the crowd cheers at one of his rallies and they still wouldn't care. Oh wait, that already happened.

What is a woman? Can you explain without using the word women?

No Wonder Trump Doesn’t Care About Gas Prices. It’s Making Him Rich.

Donald Trump’s personal holdings in the oil and gas industry have ballooned in value.

Edith Olmsted
October 26, 2026
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It’s no surprise that President Donald Trump thinks that the oil and gas business is more important than lowering gas prices: He’s the one making a fortune.

A new report published Monday by the Democrats on the Congressional Joint Economic Committee revealed that the value of Trump’s personal holdings in oil and gas may have increased by 43 percent in the last 10 months alone.

The president’s oil and gas holdings are currently worth between $22.5 million and $81.6 million. At the end of 2025, they were worth between $12.6 million and $46 million.

The report came out shortly after the president started bragging about how the energy prices hurting Americans are making him and his billionaire buddies rich.

“And while oil prices are temporarily high, and will be falling dramatically in a short period of time as soon as that war is over—because there’s so much oil,” he said to the crowd at a rally in Georgia on Saturday, referring to his war in Iran.

“The United States oil and gas business is making hundreds of billions of dollars.… Our country is making hundreds of billions of dollars ’cause of what’s happened in the Middle East … trillions of dollars.”

Meanwhile, the average price Americans are paying for gasoline under Trump has officially surpassed the average price during the Biden administration. Trump has repeatedly pledged to end his seven-month “six-week war” with Iran and lower gasoline prices to below $2 per gallon. But what reason does he have to end the war and lower prices when he’s openly admitting it’s in his financial interest to let Americans suffer? And what kind of message does this send to Americans ahead of the midterm elections, where Trump wants voters to pretend his name is on the ballot?

What? Do you take every line from trump and repeat it on here?

A woman is a female. Someone who can bear children.

Your hang up is that some people identify themselves differently. Why do you care? Because I don't. If a biological male calls himself a female or of a female calls herself a male what difference does that make in your life? Why is that any of your business? Did your God tell you to make fun of them? Did your God tell you to hate them?

From reading your posts it seems you have enough of your own issues to address without focusing on others.

Try to focus on the topic Maynard.

When you lose the conversation, you resort name calling typical.