# The oil and gas industry has been in upheaval since the start of the Iran war in February.

*business · news · 2026-04-28 · CNBC TV18*

## Key points

- BP's first quarter profit reached $3.84 billion, more than doubling last year's result.
- BP's adjusted earnings per share of $1.24 beat analyst estimates of 91 cents per share.
- The US gasoline price average hit $4.18, the highest since August 2022, amid the Iran war.
- Iran offered to lift its Strait of Hormuz hold if the US ends its blockade and the war.
- BP's shares have gained 32% year-to-date and 57% over the past year.

**Companies:** BP
**Countries:** Iran, United States

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/bps-profit-more-than-doubles-in-1q-as-iran-war-continues-and-us-gas-prices-rise-ws-l-19895133.htm)

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