NEW: Shell Makes Almost $7 Billion in Profits as Americans Continue to Pay Record High Prices at the Pump
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The company more than doubled its profits since before Trump’s war kickstarted a global energy crisis
Trump is making good on his promise to do Big Oil’s bidding while Americans pay the price
Washington, DC – As Americans are forced to choose between filling up their tanks and keeping the lights on, the windfall for Big Oil keeps growing. Today, Shell announced quarterly profits of $6.9 billion, up by 112% since Q4 in 2025 before Trump’s war of choice in Iran caused an “unprecedented disruption” in the global oil market. Meanwhile, prices at the pump have broken records in states across the country, raising costs on everything from plane tickets to groceries.
In 2024, Trump held a closed-door meeting with his ultra-wealthy Big Oil donors at Mar-a-Lago and offered them a deal if they donated a billion dollars to his campaign. Now, Big Oil is expected to reap a $60 billion windfall from the “Trump Oil Shock,” generating more than $30 million in profit every hour in the first month of the war.
Climate Power Communications Director Alex Glass issued the following statement: “In Trump’s economy, gas prices are soaring, groceries are more expensive, utility costs are through the roof, and summer travel is off the table. But while Americans struggle to make ends meet, Big Oil is cashing in on the pain. Shell’s profits have skyrocketed since before the war, adding billions to their bottom line thanks to Trump. Trump promised to lower costs — instead, he is hiking prices for working families while his ultra-wealthy pals get even richer.”
Oil and gas companies are making billions while working families foot the bill with months of pain at the pump:
- Trump’s war in Iran has already cost Americans $34 billion more at the pump.
- Gas prices have topped $4 per gallon, with the average American household expected to pay $740 more in gas this year.
- According to a CBS News poll, 51% of Americans said gas prices are posing a financial hardship or financial difficulty.
- The world’s top oil and gas companies made more than $30 million every hour in unearned profit during the first month of Trump’s war.
- The oil and gas industry gave $75 million to elect Trump.