Chevron CFO reveals why gas prices are stuck

Gasoline prices were expected to be the easy part of the oil market cooldown.

With crude prices falling from April highs and moving closer to pre-war levels, consumers expected faster relief at the pump. Instead, gasoline prices have stayed sticky, turning a market move into a political fight.

President Trump accused major oil companies of gouging consumers by failing to lower prices quickly enough.

Chevron (CVX) CFO Eimear Bonner offered a different explanation in a CNBC interview, saying prices should come down as Middle East oil flows normalize.

However, she also made it clear that there isn't a quick fix.

Chevron is looking to expand production this year, but pump prices depend on more than today's crude quote.

For perspective, according to Reuters on June 26, Brent crude traded at $71.99 a barrel, while U.S. WTI crude was at $69.23, after oil fell over 3% as Hormuz traffic improved and supply-disruption fears eased.

However, that relief might already be under threat again.

According to Reuters on June 27, fresh U.S.-Iran strikes and renewed tanker attacks near the Strait of Hormuz tested the fragile ceasefire, stoking oil-price pressures again.

Consequently, consumers

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/chevron-cfo-reveals-why-gas-210300205.html)