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US oil companies fill their coffers

US oil companies fill their coffers
Lottie Tellyn
Lottie Tellyn
By Lottie TellynOctober 30, 2026
Lottie Tellyn

Lottie is a reporter at GZERO, where she covers all things geopolitics for the website and daily newsletter. Before moving to the US, she reported for The Times and Sunday Times of London, writing about everything from sports and travel to foreign affairs and breaking news. Lottie has a bachelor’s in Politics, Philosophy and Economics from Oxford University, and a master’s in journalism from Columbia University. Originally from Hampshire, England, she now lives in New York, where she can usually be found inviting far too many people round for dinner, out running in the park, and trying to remember to drive on the wrong side of the road.

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While the average American household has spent $1,100 more on gas and diesel since the start of the Iran war, oil companies have been profiting from higher fuel prices. The same 50 US oil and gas companies made less than $47 billion in profits over the same period in 2025. Meanwhile, US President Donald Trump boasted that the US was making a “freaking fortune” from oil at a rally last week. Polls show most Americans feel the opposite.

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