Exxon Mobil Corp on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels.
people said they would change their lifestyle when it hit $5 and our follow-on survey seems to mirror that. off5% of 65% of the people said i made a change in my lifestyle. reporter: since june energy demand measured by gasoline deliveries is dropping steadily, now at lower levels than in june of 2020 during pandemic lockdowns. however, weather events could reverse this trend. we are entering the heart now of hurricane season, and a hurricane barreling through the gulf coast, hitting all the areas where there s oil production as well as oil refining capacity, that can cause problems. reporter: now, the big question is how long will this last? well, the good news is gas prices are forecast to hover at or below $4 for the summer but the bad news is the energy markets are volatile. in fact, crude oil prices jumped
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a tank of gas from $40 to $90 a month, utility bills from $180 to $300. groceries from 150 to $300 a week and turning to a local food bank for help. things just kept going up, inflation kept going up and up, until my credit card was eventually maxed out. cereal. peanut butter. at the loaves and fishes food pantry in los angeles, brenda says she no longer feels a part of a middle class. there s either extreme rich or extreme poor. and the rest of us just kind of fall through the cracks. meanwhile, with nearly every american watching more of their paychecks sucked into their gas tank, the national average now $5.01 a gallon, president biden accused u.s. oil companies of profiting off the pain at the pump, with oil refining capacity down 3 million barrels a day since 2020. and in a letter to seven oil ceos, mr. biden writes, at a time of war, refinery profit
a tank of gas from 40 to $90 a week. utility bills from 180 to $300. groceries from 150 to 300 a week now she s turning to a local food bank for help. things just kept going up inflation kept going up until my credit card was eventually maxxed out cereal, peanut butter. reporter: at the loaves and fishes food pantry in los angeles, brenda hakimian says she no longer feels a part of the middle class. there is either extreme rich or extreme poor and the rest of us kind of fall through the cracks reporter: meanwhile, with nearly every american watching more of their paycheck sucked into their gas tank, the national average now $5.01 a gallon, president biden today accused u.s. oil companies of profiting off the pain at the pump with oil refining capacity down 3 million barrels a day since 2020 in a letter to seven oil ceos, mr. biden writes, at a time of