What GOP Really Stands For: Gas and Oil Profits — Fact Sheet

Summary

A fact sheet titled What GOP Really Stands For: Gas and Oil Profits attributes rising gasoline prices to what it calls Trump's illegal war on Iran. Citing AAA, it reports an average gas price of $2.98/gallon before the war and $4.54/gallon on 5.06.26, an increase of $1.56/gallon. It estimates an extra $73.06/month and $876.72/year in fuel costs per vehicle and approximately $1,753 more per year for a family with two cars. It states that the five largest oil companies made more than $75 billion dollars in profits during Trump's first year in office and includes a chart of Big 5 profits against average gas prices from 2022 to 2026. The fact sheet also criticizes the administration's clean energy rollbacks and predicts that costs will remain high without a permanent end to the war.

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          What GOP Really Stands For: Gas and Oil Profits
             As Gasoline Prices Skyrocket, Big Oil’s Profits Do, Too.

GAS PRICES RISE…

Since the start of Trump’s illegal war on Iran, gasoline prices have spiked
dramatically—an increase of more than $1.50 per gallon. Why? Iran is a major
oil producer and effectively controls one of the world’s most critical oil transit
routes, the Strait of Hormuz. Crude oil is the biggest factor in the cost of a gallon
of gasoline—comprising approximately 50 percent of the total cost per gallon. A
$10 increase for a barrel of oil drives an estimated 25-cent increase for a gallon of
gas. Trump’s efforts to keep American dependent on expensive and volatile fossil
fuels have made Americans even more vulnerable to these oil price spikes.

 Average gas price before Trump’s           Average gas price today                      Total price increase since

                                            $4.54/gallon
 Iran War                                                                                beginning of Trump’s Iran War

 $2.98/gallon                               As of 5.06.26, per AAA                       +$1.56/gallon
 As of 2.28.26, per AAA                                                                  As of 5.06.26, per AAA



…SMALL BUSINESSES AND FAMILIES PAY THE PRICE…

At current gas prices, everyone who drives a gas-powered vehicle—every
American small business owner and every worker who uses a gas-powered vehicle
to commute—now faces an average annual increase of more than $876 in fuel
costs per vehicle. The average American family with two cars stands to pay
approximately $1,753 more for gas each year.
                  Extra monthly cost of gas, per vehicle         Extra yearly cost of gas, per vehicle

                  +$73.06/month                                  +$876.72/year

These numbers are likely an underestimate. Many analysts predict gasoline prices
will rise higher without a permanent end to the war.
Instead of investing in energy independence, Trump has done everything in his
power to destroy American-made affordable clean energy—such as canceling
congressionally funded grants, delaying or stopping permitted wind and solar
projects, and rolling back incentives for clean energy development and electric
vehicles—and double-down on the fossil fuels that are now skyrocketing in price.

…BIG OIL PROFITS

As Americans pay more at the pump, fossil fuel industry executives profit. During
Trump’s first year in office, the five largest oil companies—ExxonMobil,
Chevron, ConocoPhillips, Shell, and BP—made more than $75 billion dollars
in profits.
Profits earned by the five largest oil companies declined from 2022 to 2025, after
reaching record-setting levels in 2022, as the price of gas decreased and more
people adopted electric vehicles. But with gas prices continuing to soar due to
Trump’s illegal war of choice on Iran, that trend is likely to reverse—enriching
executives and international shareholders by levying higher costs on American
drivers.

          5-Year Trend: Big 5 Profits vs. Average Gas Prices
                                         Big 5 Oil
                                 Profits and Gas Prices
  $200                                                                                                   5
           $174
  $180
  $160                                                                                         4.54      4.5
  $140
                        $120
  $120        3.96                                                                                       4
  $100                                   $89.10
                             3.53                        $75.10
   $80                                                                                                   3.5
   $60                                            3.31
                                                               3.1
   $40                                                                         2.98                      3
   $20
    $0                                                                                                   2.5
           2022         2023              2024            2025       Iran War Begins      5.6.2026

                     Big 5 Profits, in Billions          Gas Prices, dollars per gallon

                         2022              2023            2024             2025                     2026*



Americans have already paid a substantial price in escalated costs since the
beginning of Trump’s illegal war in Iran. Without a permanent end to the war,
energy costs for the American people will remain artificially high—and will likely
escalate.


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