There are few things in American politics more reliable than a fight over gas prices, and this weekend delivered a fresh round. Gov. Gavin Newsom (D-CA) and former Transportation Secretary Pete Buttigieg both took aim at President Donald Trump, accusing him of helping oil companies lock in windfall profits while drivers foot the bill.

Newsom Offers a Sarcastic Congratulations

Newsom's weapon of choice was a clip from a rally where Trump told the crowd the oil industry was making "hundreds of billions of dollars" and promised prices would come down once the war is settled. Trump also claimed Americans were paying lower gas prices than they did under former Presidents Barack Obama and Biden.

Newsom was not buying it. "Congratulations to Big Oil on their very successful, record-profits presidency," he wrote on X on Saturday, doubling down on his earlier criticism of Trump's pro-fossil fuel stance.

This is not a one-off for the California governor. In September, he alleged a "massive wealth transfer" in the form of high energy prices to oil companies, pointing to a fuel economy rollback the Trump administration announced earlier this year.

Buttigieg Turns the Word 'Temporarily' Around

Buttigieg took a different angle, seizing on Trump's framing that high gas prices are only "temporarily" elevated. "Gas prices are 'temporarily' high, says the president," Buttigieg wrote on X. "That's because Republicans are temporarily in power." He then urged people to "vote" in the upcoming midterm elections in November.

The Analyst With the Receipts

While the politicians traded jabs, GasBuddy analyst Patrick De Haan brought the numbers. He noted that every single state, all 50 of them, has gas and diesel prices higher than a year ago. The smallest surge is 70 cents, while the average rise is $1.24 per gallon for gasoline. Diesel is the real gut punch: the average rise is $2.72 per gallon.

De Haan has been keeping a running tab on the damage. Last week, he pointed out that Americans had spent nearly $139 billion on excess gas costs since March 1, following the start of the Iran war. To put that in perspective, he said the bill could buy nearly 338,000 homes and house the population of Indianapolis.

Big Oil's Stock Rally

The market has not been shy about rewarding the oil majors since the Iran war kicked off at the end of February. ExxonMobil Holdings Corp (XOM) stock has risen over 20% since the conflict began and currently trades at $183.37.

ConocoPhillips Common Stock (COP) shares have jumped nearly 33% over the same stretch, with shares currently trading at $149.93. And Chevron Corporation Common Stock (CVX) has recorded an over 24% uptick since the war with Iran started, currently trading at $233.02 per share.

So the next time someone tells you gas prices are "temporarily" high, you can point out that the oil companies' stock charts are looking pretty permanent about it.