John Vega is among the millions of Americans still feeling the pinch at the pump, as the U.S.-Iran war has the national average for a gallon of gas hovering above the $4 mark.
"It's getting higher and higher and crazier and crazier," Vega said.
Drivers nationwide are paying 35% more for gas than before the war broke out in late February. But it's been a windfall for oil companies.
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Shell, one of the world's largest integrated energy companies, reported Thursday that it made $9.8 billion in the second quarter of this year — more than double from last year.
The profits come weeks after President Donald Trump's Justice Department called on states to investigate potential cases of price gouging by companies. But nothing has come of that, and economists caution that higher oil and gas prices alone aren't evidence of illegal price gouging.
"When the market is restricted, prices go up," said Patrick De Haan, head of petroleum analysis at GasBuddy. "It doesn't mean anything nefarious has happened. It's just economics 101."
IN CASE YOU MISSED IT | New poll shows two-thirds of Americans say war with Iran has not been worthwhile
A new AP-NORC poll shows Americans' priorities when it comes to the war with Iran. More than 7 in 10 say preventing oil and gas prices from rising is "extremely" or "very important." That's more than those who prioritized negotiating a permanent ceasefire or preventing Iran from obtaining a nuclear weapon.
