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Exxon, Chevron Warn Fuel Prices to Endure as War Knocks Refining

Bloomberg Markets Saturday 01 August 2026, 13:30 UTC By Kevin Crowley 1 min read
Key Points

Exxon, Chevron Warn Fuel Prices to Endure as War Knocks Refining High fuel prices are likely to stick around even if oil prices drop in the coming months as the wars in Russia and Middle East leave global refining capacity critically short, ExxonMobil Holdings Corp. and Chevron Corp. warned. Gasoline, diesel and jet fuel prices typically rise and fall with crude oil. But that link is growing tenuous because so many refineries have been knocked offline, causing fuel prices to remain...

Exxon, Chevron Warn Fuel Prices to Endure as War Knocks Refining High fuel prices are likely to stick around even if oil prices drop in the coming months as the wars in Russia and Middle East leave global refining capacity critically short, ExxonMobil Holdings Corp. and Chevron Corp. warned. Gasoline, diesel and jet fuel prices typically rise and fall with crude oil. But that link is growing tenuous because so many refineries have been knocked offline, causing fuel prices to remain stubbornly high and accelerating inflation even as oil falls.
Exxon (ORG) Chevron (ORG) Russia (LOCATION) Middle East (LOCATION) ExxonMobil Holdings Corp. (ORG) Chevron Corp. (ORG)
Originally published by Bloomberg Markets Read original →

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