BP profits highest in 14 years amid gas pump pinch

BP reported a profit of $8.5 billion for its second quarter, its highest in 14 years.

The announcement today from the oil giant comes as consumers are feeling the hurt of decades-high inflation and a cost-of-living crisis that’s particularly painful at the gas pump.

Earlier this year, the national average gas price in the United States jumped to over $5 dollar a gallon for the first time.

BP’s second-quarter results, up from $6.2 billion in the first quarter, were driven by strong refining margins and oil trading performance, as well as higher fuel prices, the company says.

Read more from The Washington Post.