ExxonMobil and Chevron post strong refining profits as gasoline tops $4 a gallon

FinanceInternationalFox BusinessOct 30, 2026, 1:52 PM35 s readAI summary

ExxonMobil and Chevron booked billions of dollars in third-quarter profits, driven by refining, amid rising oil prices due to supply constraints linked to international conflicts. ExxonMobil earned more revenue from refining than from exploration and drilling for the first time in at least six years, and Chevron's downstream earnings also hit their highest level in that period. The U.S. national average price of regular gasoline was $4.20 a gallon, according to AAA.

In 35 seconds

ExxonMobil and Chevron reported billions in quarterly profits, with refining as the main driver.
For the first time in at least six years, ExxonMobil's refining revenue exceeded its exploration and drilling revenue.
A gallon of regular gasoline averaged $4.20 in the U.S., versus $3.03 a year earlier, per AAA.

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IASummary generated by artificial intelligence from a story by Fox Business. It may contain errors: the original source prevails.

petróleo
gasolina
ExxonMobil
Chevron
refinación

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ExxonMobil and Chevron post strong refining profits as gasoline tops $4 a gallon

In 35 seconds

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Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day