Phyrex
Phyrex|Nov 08, 2026 08:36
The Iran war has boosted profits for US oil companies, but ordinary families are paying a price for higher fuel costs. The war in Iran, launched by Trump, has made US oil companies richer, but ordinary American families are paying the price with higher fuel prices. The New York Times compiled data from over 50 major US oil and gas companies. From April to September 2026, these companies' combined profits exceeded $130 billion, compared to less than $47 billion in the same period last year—nearly three times the previous year's figure. ExxonMobil's third-quarter net profit reached $15.4 billion, compared to approximately $7.5 billion in the same period last year, while Chevron earned $9.9 billion, compared to approximately $3.5 billion in the same period last year. The Iran war has impacted energy production and transportation in the Middle East, pushing up global oil prices. Even without production in conflict zones, US oil companies can still sell at higher prices due to the increased oil prices. Tight supplies and rising prices of refined petroleum products such as gasoline and diesel have also allowed some US refineries to earn more profits. However, for ordinary families, rising fuel prices mean higher living costs. According to Brown University estimates, from the start of the war on February 28th to the end of October, compared to a situation without war, the additional expenditure on gasoline and diesel in the United States was approximately $147 billion, averaging over $1,100 per household nationwide. Furthermore, rising fuel prices will directly push up energy inflation, and increased transportation and production costs for businesses may be passed on to the prices of food and other goods. If oil prices remain high for an extended period, it will also put sustained pressure on overall inflation in the United States. A @Gate account, trading more markets
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