Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
Trump told a Georgia rally that the U.S. is making a freaking fortune from high oil prices and that pump prices will come down. Democratic lawmakers said Americans are the ones paying, and called the remark indifferent to drivers' costs.
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Published by The Dispute Index editorial teamPublished Updated
Overview
At a campaign rally in Perry, Georgia, on October 24, 2026, President Donald Trump said oil prices were temporarily high and that the U.S. oil and gas business was making hundreds of billions of dollars. He said his advisers had told him not to mention it because people were paying more, and added, "I don't give a damn. I'm gonna say it. We're making a freaking fortune." Democratic lawmakers and commentators said the remark showed he did not care about the cost to drivers.
Read the full background
Trump spoke at a midterm rally in Perry, Georgia, on October 24, 2026, for Senate candidate Mike Collins and governor candidate Rick Jackson. He said oil prices were temporarily high and would fall dramatically once the war with Iran ended, and that buyers were turning to oil from Texas, Oklahoma and Louisiana. He said his advisers had asked him not to mention the industry's earnings because people were paying a little higher, and that he could already see headlines saying he was talking about money while people suffered at the pump.
The national average for regular gasoline was about $4.29 a gallon on October 25, 2026, compared with $3.07 on October 23, 2025, according to AAA figures cited by International Business Times UK.
Democratic senators and House members, and commentators including David Axelrod, said Trump was celebrating oil profits while families and farmers paid more for fuel. Trump returned to the theme at a rally in Lubbock, Texas, on October 27, saying the country was making a fortune while people have to pay more at the pump, and that prices at the pump would come down really fast.
People in this case
Donald TrumpDirectly involved
Jim McGovernCommented
Tina SmithCommented
Adam SchiffCommented
Timeline
2 timeline entries on this page. Dates: October 24, 2026 to October 27, 2026
October 2026
Trump tells a Perry, Georgia, rally the U.S. is making a fortune from high oil prices
Claim
At a midterm rally in Perry, Georgia, Trump says oil prices are temporarily high and will fall once the war with Iran ends, and that the U.S. oil and gas business is making hundreds of billions of dollars. He says his advisers asked him not to mention it because people are paying more, and that he does not care how it will be reported.
[01]Roll Call
Time-coded transcript of Trump's October 24, 2026, campaign rally in Perry, Georgia. Trump says Denmark gave the United States Greenland, calls the agreement the greatest real estate deal in history after Venezuela and says the United States got both for zero.
Transcript of Donald Trump's rally in Perry, Georgia, October 24, 2026 · Roll CallTranscript segments 00:12:19-00:13:41 and 01:07:08-01:07:27[02]Trump Says US Is 'Making a Freaking Fortune' on Oil as Americans Pay $4.29 a Gallon for Gas
International Business Times UK report on Trump's October 24, 2026, rally in Perry, Georgia. It quotes his remarks on oil industry earnings and his account of his staff's advice, and gives AAA's national average gasoline price for October 25, 2026, and October 2025.
Trump repeats the point at a rally in Lubbock, Texas
Claim
At a rally in Lubbock, Texas, Trump says the country is making a fortune while people have to pay more at the pump, says prices at the pump will come down really fast, and says Texas has done better with oil and gas in the last seven months than ever before.
[03]Roll Call
Transcript of Trump's October 27, 2026, campaign rally in Lubbock, Texas. Trump says Texas is refining more oil than ever, says the country is making a fortune while people have to pay more at the pump, and says prices at the pump will come down really fast.
Transcript of Donald Trump's rally in Lubbock, Texas, October 27, 2026 · Roll CallPassage beginning "Drill, baby, drill. Now, in all fairness"
Response record
Responses
Choose one response filter, or select All responses to see the full record.
5 responses. Newest first.
Jim McGovernU.S. representative from Massachusetts, posting on XBefore this statement
Trump told a crowd at a rally in Georgia on October 24 that the U.S. was making a fortune from oil, as drivers faced fuel prices more than $1 a gallon higher than a year earlier.
"We're not making a "freaking fortune," we're PAYING a "freaking fortune.""
Challenged the characterizationCase context: Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
Full statement and sources
Rep. Jim McGovern wrote on X that Americans are not making a fortune from high oil prices but paying one.
After the statement
His post links to a Business Insider article.
Jim McGovern post on X responding to Trump's oil remarkOriginal post, 4:03 PM ET on October 26, 2026Why this label?
The reference point is Trump's October 24 remark that the U.S. is making a fortune from high oil prices while people pay more at the pump. McGovern rejects Trump's account of who gains from high oil prices and says Americans are the ones paying, a challenge to how Trump described the situation.
This label describes the statement's response within the context above.
Tina SmithU.S. senator from Minnesota, posting on her Senate account on XBefore this statement
Smith's post begins by saying American farmers are expected to pay $2.4 billion more for diesel this year, and that Minnesota farmers are taking an extra $1,900 hit to fill their fuel tanks.
"Trump has some nerve to brag about making a "freaking fortune" from the sky-high oil prices."
CondemnedCase context: Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
Full statement and sources
Sen. Tina Smith wrote on X that farmers face higher diesel costs this year and that Trump has some nerve bragging about making a fortune from high oil prices.
After the statement
In a second post seconds later, she wrote that it is hard to celebrate big oil making a fortune when farmers are the ones paying it.
Tina Smith post on X about diesel costs and Trump's oil remarkOriginal post, 12:39 PM ET on October 26, 2026Tina Smith follow-up post on X about farmers and oil earningsOriginal post, 12:39 PM ET on October 26, 2026Why this label?
The reference point is Trump's October 24 remark that the U.S. is making a fortune from high oil prices while people pay more at the pump. Smith sets Trump's boast about oil earnings against farmers' added diesel costs and calls it nervy, which criticizes the remark.
This label describes the statement's response within the context above.
Adam SchiffU.S. senator from California, posting on XBefore this statement
At the October 24 rally in Perry, Georgia, Trump anticipated criticism that he was celebrating industry profits while families struggled with higher prices.
""I don't give a damn. We're making a freaking fortune." There is no slogan more fitting for this White House."
CondemnedCase context: Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
Full statement and sources
Sen. Adam Schiff quoted Trump's line from the Perry rally on X and wrote that no slogan fits the Trump White House better.
After the statement
The national average for regular gasoline was around $4.29 a gallon on Sunday, October 25.
Adam Schiff post on X quoting Trump's oil remarkOriginal post, 11:12 PM ET on October 25, 2026Why this label?
The reference point is Trump's October 24 remark that the U.S. is making a fortune from high oil prices while people pay more at the pump. Schiff presents the line as a slogan that sums up the administration, which criticizes the remark and the White House behind it.
This label describes the statement's response within the context above.
Bernie SandersU.S. senator from Vermont, posting on XBefore this statement
Trump told the Perry, Georgia, rally on October 24 that the American oil and gas industry was making enormous amounts of money as international buyers turned to U.S. suppliers.
"Trump just said the quiet part out loud: He doesn't "give a damn" about higher gas prices, as long as his billionaire friends are making a fortune."
CondemnedCase context: Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
Full statement and sources
Sen. Bernie Sanders wrote on X that Trump had said the quiet part out loud: that he does not care about higher gas prices as long as his billionaire friends are making a fortune.
After the statement
Sanders added that Trump does not tell the truth very often, but did last night.
Bernie Sanders post on X about Trump and gas pricesOriginal post, 11:11 AM ET on October 25, 2026Why this label?
The reference point is Trump's October 24 remark that the U.S. is making a fortune from high oil prices while people pay more at the pump. Sanders says the remark shows Trump does not care about higher gas prices as long as wealthy allies profit, which criticizes it.
This label describes the statement's response within the context above.
David AxelrodPolitical strategist and former senior adviser to President Barack Obama, posting on XBefore this statement
At a rally in Perry, Georgia, on October 24, Trump said his staff had advised him against discussing oil industry profits because Americans were paying more at the pump.
"Give @POTUS credit for leveling with the American people. HE's making money like he's never made before. And he doesn't give a damn about high gas prices."
CondemnedCase context: Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
Full statement and sources
David Axelrod wrote on X that Trump deserves credit for leveling with Americans, then said the president is making money like never before and does not care about high gas prices.
After the statement
He added in parentheses that it was not a great closing message.
David Axelrod post on X about Trump and gas pricesOriginal post, 9:47 PM ET on October 24, 2026Why this label?
The reference point is Trump's October 24 remark that the U.S. is making a fortune from high oil prices while people pay more at the pump. Axelrod's mock credit for leveling with the American people leads into the charge that Trump does not care about high gas prices, and he calls it a poor closing message, so the post criticizes the remark.
This label describes the statement's response within the context above.
Sources
(9)
Original text
Transcript of Donald Trump's rally in Perry, Georgia, October 24, 2026
Relevant passage: Transcript segments 00:12:19-00:13:41 and 01:07:08-01:07:27
About this source
Time-coded transcript of Trump's October 24, 2026, campaign rally in Perry, Georgia. Trump says Denmark gave the United States Greenland, calls the agreement the greatest real estate deal in history after Venezuela and says the United States got both for zero.
- Author
- Roll Call Factba.se
- Accessed
Original post
Jim McGovern post on X responding to Trump's oil remark
About this source
McGovern responds to Trump's remark about oil earnings and links to a Business Insider article on gas prices.
- Author
- Rep. Jim McGovern (@RepMcGovern)
- Published
- Accessed
Original post
Tina Smith follow-up post on X about farmers and oil earnings
About this source
Smith's second post, published seconds after her first, on farmers paying for higher oil prices.
- Author
- Tina Smith (@SenTinaSmith)
- Published
- Accessed
Original post
Tina Smith post on X about diesel costs and Trump's oil remark
About this source
Smith cites diesel cost estimates for American and Minnesota farmers and criticizes Trump's remark about oil earnings.
- Author
- Tina Smith (@SenTinaSmith)
- Published
- Accessed
Original post
Adam Schiff post on X quoting Trump's oil remark
About this source
Schiff's post quotes Trump's October 24, 2026, rally line about oil earnings and a clip of the remarks, and comments on it.
- Author
- Senator Adam Schiff (@SenAdamSchiff)
- Published
- Accessed
Original post
Bernie Sanders post on X about Trump and gas prices
About this source
Sanders's post quotes a clip of Trump's October 24, 2026, rally remarks on high gas prices and comments on them.
- Author
- Bernie Sanders (@BernieSanders)
- Published
- Accessed
Original post
David Axelrod post on X about Trump and gas prices
About this source
Axelrod's post quotes a clip of Trump's October 24, 2026, rally remarks on high gas prices and comments on them.
- Author
- David Axelrod (@davidaxelrod)
- Published
- Accessed
Reporting
Trump Says US Is 'Making a Freaking Fortune' on Oil as Americans Pay $4.29 a Gallon for Gas
Relevant passage: Full article
About this source
International Business Times UK report on Trump's October 24, 2026, rally in Perry, Georgia. It quotes his remarks on oil industry earnings and his account of his staff's advice, and gives AAA's national average gasoline price for October 25, 2026, and October 2025.
- Author
- Bernadette B. Tixon, International Business Times UK
- Published
- Accessed
Original text
Transcript of Donald Trump's rally in Lubbock, Texas, October 27, 2026
Relevant passage: Passage beginning "Drill, baby, drill. Now, in all fairness"
About this source
Transcript of Trump's October 27, 2026, campaign rally in Lubbock, Texas. Trump says Texas is refining more oil than ever, says the country is making a fortune while people have to pay more at the pump, and says prices at the pump will come down really fast.
- Author
- Roll Call Factba.se
- Published
- Accessed
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Cite this record
- Publisher
- The Dispute Index
- Title
- Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it
- First published
- Last updated
- Permalink
- https://disputeindex.com/cases/trump-freaking-fortune-oil-prices-remark
The Dispute Index. "Trump says the U.S. is "making a freaking fortune" from high oil prices; Democrats say drivers are paying for it". First published: 2026-10-28. Last updated: 2026-10-28. https://disputeindex.com/cases/trump-freaking-fortune-oil-prices-remark