Trump's oil portfolio surges as gas prices hit record highs

President Trump's personal investment in the oil and gas sector has grown by an average of 43 percent since the end of 2025, according to a report from Democrats on the Congressional Joint Economic Committee. The value of these holdings now ranges between $22.5 million and $81.6 million, up from a range of $12.6 million to $46 million at the close of the previous year.

The report, based on data from LSEG Data Analytics and the president's financial filings with the Office of Government Ethics, indicates that the president purchased between $4.7 million and $17.5 million in oil and gas stocks between March and the end of August. During that same period, he sold between $2 million and $5.4 million in such stocks. Because filers are required to report transaction ranges rather than exact figures, the committee noted that the total value may be even higher, as transactions from September and October have not yet been reported.

Chevron and ExxonMobil account for the largest portion of the president's energy holdings. He owns up to $23.1 million in Chevron stock and up to $18.4 million in ExxonMobil. Since February 20, the stock price of Chevron has increased by nearly 25 percent, while ExxonMobil stock has risen by nearly 22 percent.

While the president's portfolio grows, the average cost of a gallon of regular gas nationwide has climbed to $4.29, up from $2.87 in early February before the war with Iran began. Diesel prices have also risen sharply, reaching $6.28 per gallon from $3.68. Democrats on the committee estimated that American families have spent an average of $856 more on gas since the conflict started on February 28.

Senate Majority Leader Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee, said the rise in stock wealth raises concerns about conflicts of interest. "Trump’s Iran War has forced Americans to pay much more at the pump while Big Oil rakes in profits and the president’s own stock wealth in the oil and gas industry continues to balloon," Hassan said.

White House spokesman Davis Ingle stated that the president's portfolio is independently managed by third-party financial institutions using computer-based model portfolios. Ingle said neither the president nor any family member has the ability to direct investment decisions. "All investment decisions are made entirely by independent managers," Ingle said.

The war has stymied oil exports in the Strait of Hormuz, pushing global Brent crude prices above $115 per barrel. On Thursday, the president announced he would invoke the Defense Production Act to spend $150 million to boost gasoline and diesel production. U.S. Ambassador to the United Nations Mike Waltz told the Financial Times that the conflict could last another year.