Chevron CFO says gas prices will normalize after Trump presses Big Oil
President Donald Trump has ordered the Justice Department to investigate oil companies for alleged price gouging. Chevron CFO Eimear Bonner told CNBC that U.S. gasoline prices are expected to fall as Middle East tensions ease. She noted a lag exists between crude price declines and relief for consumers at the pump.
What changed
Chevron CFO Eimear Bonner responded to President Trump's order for a DOJ investigation into oil company pricing.
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Chevron CFO Predicts Gas Price Decline Amid Trump DOJ Probe
confidence 100%President Donald Trump has ordered the Justice Department to investigate oil companies for alleged price gouging. Chevron CFO Eimear Bonner told CNBC that U.S. gasoline prices are expected to fall as Middle East tensions ease. She noted a lag exists between crude price declines and relief for consumers at the pump.
What's confirmed:
- President Donald Trump ordered the Justice Department to investigate oil companies over high gas prices.
- Trump accused oil companies of gouging consumers.
- Chevron CFO Eimear Bonner told CNBC she expects U.S. gasoline prices to fall.
- Bonner stated there is a lag between crude price declines and pump relief.
- Bonner linked the eventual drop in gas prices to the stabilization of tensions in the Middle East.
Still unconfirmed:
- Brent crude is trading at $72.75.