Trump’s Billion-Dollar Deal with Big Oil Fuels Soaring Gas Prices While Americans Suffer

The first quarter of 2026 has made one thing crystal clear: Donald Trump’s alliance with Big Oil is a disaster for American families. At a secretive Mar-A-Lago gathering, Trump promised oil and gas executives a billion-dollar deal in exchange for campaign donations. Now, those promises have been paid off with soaring profits for his billionaire backers, while everyday Americans are left paying the price at the pump and beyond.

Gas prices hit over $4 a gallon in late March—the highest since 2022—and surged nearly 27 percent in just one month, the largest jump since Hurricane Katrina. Analysts warn that if oil prices climb to $130 per barrel, inflation could double the Federal Reserve’s target, threatening a broader economic crisis. This inflation isn’t just about gas—it’s a “delivery tax” baked into the cost of groceries, shipping, and travel. Amazon and USPS have already added fuel surcharges, and airlines like United warn of ticket price hikes up to 20 percent.

Meanwhile, Trump has actively sabotaged America’s clean energy future. His administration has canceled or delayed over 365 energy projects worth $61.4 billion—projects that could have powered 14.6 million homes. Instead, Trump’s policies keep the U.S. tied to volatile fossil fuels, enriching his oil donors while making the economy more vulnerable to global shocks.

The profits tell the story: BP’s earnings more than doubled from last year. Liberty Energy, owned by Secretary Chris Wright, reported $10 million in earnings—a 32 percent increase from late 2025. EQT Corporation’s quarterly profits jumped 150 percent. CEOs from both Liberty Energy and EQT were present when Trump made his billion-dollar promise.

In response, Senator Sheldon Whitehouse and Congressman Ro Khanna have introduced the Big Oil Windfall Profits Tax Act, aiming to claw back excessive profits and provide relief to struggling Americans.

Trump campaigned on ending needless wars and cutting energy costs. Instead, he’s launched multiple costly conflicts, driven utility bills up by 13 percent, and presided over skyrocketing prices on essentials. The only ones winning are the oil billionaires who bankroll his campaign.

The bottom line: Trump kept his word to Big Oil and left American families to foot the bill.