BELOW SUPERNAV drop zone ⇩

Are oil companies gouging customers?

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

maylen

https://digital-stage.newsnationnow.com/

AUTO TEST CUSTOM HTML 20241114185800

AUTO TEST CUSTOM HTML 20241115200405

AUTO TEST CUSTOM HTML 20241118165728

AUTO TEST CUSTOM HTML 20241118184948

(NewsNation) — Drivers nationwide were seeing some relief at the pump Tuesday morning, but prices are still through the roof compared to what they were this time last year.

The national average is down almost 69 cents a gallon from a month ago, but they’re almost 84 cents higher priced than a year ago.

Meanwhile, energy companies are posting record profits.

Oil company profits (second quarter of 2022):

  • ExxonMobil – $17.9 billion
  • Shell – $11.5 billion
  • TotalEnergies – $9.8 billion
  • BP – $8.5 billion
  • Chevron – $6 billion

Truck driver Christopher Eme told NewsNation’s “Banfield” he’s outraged.

“Our costs are through the roof, and they’re making profits at those staggering numbers. It’s outrageous.”

Uber driver Arturo Barrera was also devastated.

“It all happened so quick. As a driver, you’re working hard to make ends meat. You don’t really see the other side of it and why it’s happening,” Barrera said during a Tuesday appearance on “Banfield.”

Andrew Lipow, the president of Lipow Oil Associates LLC, said there’s no doubt that the oil companies are “benefiting from both high crude oil prices and natural-gas prices.”

Lipow said the issue is that we’re in an energy crisis and to solve that crisis, we must take an all-of-the-above approach in order to make more energy available. Solutions, he said, include electric vehicles, as well as the use of natural gas, coal and nuclear power in order to create electricity.

Banfield

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

AUTO TEST CUSTOM HTML 20241119133138

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Sunny

la

65°F Sunny Feels like 65°
Wind
6 mph WSW
Humidity
40%
Sunrise
Sunset

Tonight

Clear to partly cloudy. Low 47F. Winds N at 5 to 10 mph.
47°F Clear to partly cloudy. Low 47F. Winds N at 5 to 10 mph.
Wind
7 mph N
Precip
12%
Sunset
Moon Phase
Waning Gibbous