Exxon, Chevron, and other US oil and gas producers and refiners hit all-time-high stock values amid Iran war while consumers pay the price

The market capitalization values of Exxon Mobil, Chevron, and a bevy of other U.S. oil and gas producers, refiners, and exporters surged to all-time highs this week amid the Iran war and fears of growing fuel and power costs and shortages worldwide.

The stock prices of the American Big Oil giants are up about 30% this year as global oil spiked to $100 per barrel—the highest since after Russia invaded Ukraine. But liquefied natural gas (LNG) prices also have skyrocketed, as have refining profit margins for gasoline, diesel, and jet fuel. So there are big winners throughout the industry, from Exxon to LNG exporters Cheniere Energy and Venture Global to refiners such as Valero Energy, Marathon Petroleum, and Phillips 66.

The average price of a gallon of regular unleaded gasoline is above $3.60 and rising in the U....