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The Economic Times

Economy / The Economic Times

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US oil companies see big jump in profit

US oil giants are poised for record profits, potentially sparking a showdown with President Trump over high gasoline prices. Despite falling crude oil costs, pump prices remain elevated due to refining and inventory issues. Industry insiders acknowledge the political pressure, as Americans grapple with the cost of fuel ahead of crucial elections. Lobbyists are actively engaging with officials to counter criticism.

4 Jul 2026 12:38 am