Why have US gas prices remained high even as crude oil prices fell below $80?

The news states that 'even as reports of imminent peace deals or attacks jolt oil markets, fuel prices at US gas stations have remained high' — indicating a disconnect between falling crude prices and sustained retail fuel costs, though no explanation for this divergence is provided in the body.

Which two US oil companies reported their biggest profits in years, and what are they doing with those windfall profits?

Exxon and Chevron reported their biggest profits in years, and according to the news, they are 'steer[ing] windfall profits Into Paying Down Debt'. The body explicitly names these two companies and specifies debt reduction as the stated use of the profits.

Big Oil’s Big Wartime Profits

Aug 3, 2026

Exxon and Chevron reported record profits amid soaring fuel prices driven by Middle East tensions. While crude prices dipped, station costs remained high as major oil companies allocate windfalls to debt reduction.

bloomberg

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Tiny Guyana poised for big Iran oil gains and growth strains

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Big Oil’s Big Wartime Profits

Big Oil’s Big Wartime Profits

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