His remarks followed quarterly earnings reports showing the two companies collectively generated more than $26 billion in profit during the three months ending in June. "I think oil prices are going to drop through the floor," he said. Chevron: $12.2 billion in profit, the highest quarterly earnings in the company's history and roughly five times higher than the same quarter a year earlier. Corporate profits therefore are not determined solely by retail gasoline prices. Trump has repeatedly urged lower gasoline prices throughout the conflict.