Aug. 3 (UPI) — President Donald Trump on Monday said ExxonMobil and Chevron “made too much money” over the Iran war.

The companies last week reported a combined $26.5 billion in second-quarter profits.

Chevron’s profits increased by 400% compared to the second quarter of 2025. ExxonMobil reported they made more than double over the same time period.

“Based on a shortage, they’re making too much money,” Trump told reporters, Politico reported. “I don’t like it, and I should be the last one to say because I’m a big free enterprise guy — nobody bigger.”

Average gas prices, which have spiked dramatically since Trump launched his war on Iran, were reaching nearly $4.10 per gallon this week, according to AAA.

“When you look at one company, where they made 12 times what they made the year before, they’re going to give some of that back to the public, and they better cut the retail price, the consumer price,” Trump said, CBS News reported.

“I’ll say it loud and clear: I’m not happy about it,” the president added.

Brent crude, the international oil benchmark, fell nearly 5% to $83 per barrel on Monday.

Experts said the drop was likely due to softening rhetoric from the White House, with Trump announcing over the weekend the U.S. was backing off from further escalations in Iran.