Saturday, 1 August, 2026
Fueling the Flame: Big Oil Warns Pump Prices Aren't Cooling Down
By TechShots Studio
ExxonMobil and Chevron warn that persistent energy disruptions from the conflict in Iran will keep fuel prices high throughout late 2026. Shrinking global refining capacity, depleted stockpiles, and shipping bottlenecks—particularly around the Strait of Hormuz—are driving up diesel and gasoline margins, pushing pump prices higher even as both oil giants report billions in record quarterly profits.
Read full story at REUTERS