Bernie Sanders Accuses Oil Companies Of Using Iran War To 'Rip Off Americans'—Calls For 'Windfall' Profits Tax

Sen. Bernie Sanders (I-VT) on Monday accused oil companies of profiting from the war in Iran amid an oil and gasoline price surge in the U.S.

Ripping Off Americans

Sanders, in a post on X, drew comparisons between crude oil and gasoline prices from 2026 and 2011. The Vermont independent outlined that oil prices on Monday were around the $105/barrel mark, while gas cost $4.46 per gallon in the U.S.

He then shared the oil and gas figures from March 2011, during the President Barack Obama administration, when oil was trading at $105/barrel, but gas was $3.51 a gallon. “Big Oil is using the Iran War to rip off Americans at the gas pump,” he said, touting a “windfall profits tax” and calling for an end to the Iran war.

Gavin Newsom Attacks Trump Over Gas Prices

The President Donald Trump administration has faced sharp criticism and falling approval ratings over its handling of the situation in Iran and gas prices, among other things. Governor Gavin Newsom (D-CA) recently slammed Trump as gas prices continued to surge in the U.S., calling the excess cost Trump’s “Iran war tax.”

According to the American Automobile Association (AAA) data, a gallon of gas in the U.S. on Monday cost $4.457, with drivers in California being the only ones to pay over $6/gallon at $6.114. Meanwhile, Transportation Secretary Sean Duffy shared that he expects gas prices to fall rapidly once the Strait of Hormuz reopens.

At press time, the West Texas Intermediate (WTI) Crude traded at $104.4/barrel, while the Brent crude oil hovered around the $113.2/barrel mark. The United States Oil Fund (NYSE:USO), which tracks the WTI crude, on the other hand, was down 0.33% to $147.13 on Monday, during the after-hours trading session.

Iran War

Trump recently announced he was launching the “Project Freedom” initiative aimed at guiding ships stranded in the Strait of Hormuz out of restricted waters as a “humanitarian gesture” amid escalating tensions in the region.

Meanwhile, the U.S. launched attacks on multiple Iranian fast boats as Iran struck oil facilities in the UAE, according to a BBC report on Monday. Notably, the UAE recently exited the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, which is a consortium of oil-producing countries comprising Saudi Arabia, Iran, Iraq and more.

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