Senate Democratic Leader Chuck Schumer (D-N.Y.) has a message for President Donald Trump: you made money on oil and gas stocks while Americans got squeezed at the pump. And Senate Democrats, he says, plan to do something about it.

Schumer Takes Aim At Trump's Oil Stocks

In a post on X, Schumer said Americans have paid "billions more for gas" while Trump has "stuffed tens of millions in personal profit into his pockets."

Schumer argued that members of Congress and the president alike should be barred from making millions off their office, calling it "obscene."

"Senate Democrats will hold Trump accountable for doing just that," Schumer added.

The Numbers Behind The Accusation

A new report from Democrats on the Congressional Joint Economic Committee, first obtained by CBS News, found Trump's oil and gas holdings were worth between $22.5 million and $81.6 million, up from $12.6 million to $46 million at the end of 2025.

The stocks have gained an average of 43% since then, according to LSEG Data Analytics.

Trump bought between $4.7 million and $17.5 million in oil and gas stocks from March through August and sold between $2 million and $5.4 million, the report said.

White House spokesman Davis Ingle said in a statement that "President Trump's priority has been and continues to be lowering gas prices for American families."

He added that third-party managers run Trump's portfolio and that there are no conflicts of interest.

Trump's oil and gas stock holdings performance

Meanwhile, Gas Prices Stay High

The national average for regular gasoline was $4.2858 a gallon on Monday, down from $4.2953 a week ago but up from $3.0532 a year ago, according to the American Automobile Association. Diesel averaged $6.3492, up from $6.3187 a week ago and $3.6616 a year ago.

Polymarket gave Democrats a 66% chance of winning the Senate and 92% of winning the House at the Nov. 3 midterm election.

Price Action: The United States Oil Fund (NYSE:USO) closed 1.95% lower at $166.23 on Monday and fell 0.61% to $165.21 in extended trading.

MarketDash Edge rankings indicate the United States Oil Fund has a Momentum score in the 96th percentile.