Chevron says U.S. gas prices should ease as oil markets normalize

Chevron Chief Financial Officer Eimear Bonner said U.S. gasoline prices are expected to come down, but not immediately, as oil markets continue to stabilize after recent disruption in the Middle East. Her comments came after President Donald Trump accused major oil companies of not passing along lower crude prices to consumers and ordered an investigation into the industry. Trump said pump prices should be much lower, naming Chevron, Exxon Mobil, Shell and BP. Bonner said Chevron is trying to do what it can to support supply and that there is usually a delay before changes in crude oil prices show up at the pump. She also said Chevron plans to raise production this year by 7% to 10%. The article noted that Brent and West Texas Intermediate crude prices have fallen from recent highs as tensions in the region have eased, though officials and oil companies said the impact on gasoline prices will take time to filter through.