Oil and Gas Companies Rake in More Than $100 Billion in Q3 Profits While American Families Continue to Pay the Price

27 companies raked in$100.3 billion in Q3, a 155% increase in profits since last year

The average price of gas stayed above $4 a gallon for a record 182 days in 2026, and Americans have spent an extra $157 billion at the pump since the start of Trump’s war

Washington, DC – A Climate Power review of 27 oil and gas companies’ Q3 earnings reports found that collectively, they have raked in more than $100 billion. That translates to roughly $1.1 billion per day (or $45.4 million per hour). That is a 155% increase from the $39.4 billion they made in the same period last year. 

Through the first nine months of 2026, these companies have made $233.7 billion, a 105% increase from the same period in 2025. The top five earners — ExxonMobil, Chevron, Shell, TotalEnergies, and BP — collectively earned $56.2 billion in Q3, a 141% increase from last year. Fourteen companies more than doubled their profits year over year, and four more than quadrupled them, including Marathon Petroleum (up 724%) and Valero Energy (up 524%). Meanwhile, American families are being forced to choose between filling up their tanks and keeping the lights on. 

As of November 10, Americans have spent an extra$157 billion at the pump since Trump started his war with Iran, amounting to $1,191.28 per household. And after insisting he doesn’t think about Americans’ financial situation time and time again, Trump’s record of cozying up to Big Oil, including the millions of dollars in Exxon and Chevron stock that he has owned, makes it clear that he wasn’t lying. While Big Oil makes billions off Trump’s war, Trump has spent $4 billion in taxpayer dollars to cancel clean energy projects, taking energy options off the grid as demand skyrockets. 

Climate Power Communications Director Alex Glass released the following statement: “These profit numbers are just more proof that Trump only cares about getting rich, and it makes sense why Americans so resoundingly rejected him and congressional Republicans’ agenda. While Trump keeps gaslighting the American people by telling them everyone has made billions from his presidency, a new congressional majority will be getting to work to actually lower costs and make life better for Americans. That includes real oversight over Trump and Vance’s cozy relationship with oil and gas billionaires, and diversifying America’s energy sources so we are not so dependent on global oil markets.”