Chevron and ExxonMobil have reported their strongest quarterly earnings in years — $12bn and $9.2bn respectively — driven by elevated global oil prices linked to US military tensions with Iran, which have disrupted supply through the Strait of Hormuz (a strategic waterway through which roughly one-fifth of the world's energy supply passes). The windfall has not reached consumers: the average US petrol price has risen to $4.09 per gallon, up from $2.98 before hostilities with Iran began in late February, with lower-income households spending more than 10% of their monthly income on fuel. President Donald Trump publicly criticised both companies — declaring they were making "too much money" — while analysts say meaningful relief for consumers is limited by corporate obligations to shareholders, though suspending state and federal petrol taxes has been floated as a potential short-term remedy.