A North Jersey congressman accused nearly a dozen oil giants of “robbing” motorists of billions of dollars in profits as they struggled with sky-high gas prices this summer.

Wednesday’s comment by Rep. Bill Pascrell Jr., who represents parts of Bergen and Passaic counties, came days after a report detailing how the 11 companies sought to justify millions of dollars in executive compensation and stock buybacks, and how they used federal tax law to benefit their shareholders.

The report lists the 11 responses to those inquiries, but it identifies the respondents only as companies A through K.

“Big oil companies are more interested in funneling billions to their shareholders,” Pascrell, a Democrat, said Wednesday in Clifton, across the street from a Sunoco gas station. “The executives and the shareholders are more important than addressing record-high gas prices.”

New Jersey gas prices peaked at $5.05 a gallon on June 13, according to AAA. They’ve steadily coasted down, reaching an average of $4.03 a gallon as of Wednesday. A gallon of gas cost $3.18 a year ago, AAA figures show.

Gas prices became the primary driver of record-high costs of living this past year, the Bureau of Labor Statistics said.

“They are gouging consumers,” added Pascrell, who chairs the Ways and Means Subcommittee on Oversight. “I think we need a new word. We’ve used that too long … it’s done nothing for us. We need a new word. How about 'robbing'?”

Pascrell said he wrote to the CEOs of the 11 companies individually: Enbridge Inc.; Royal Dutch Shell; ExxonMobil; British Petroleum; Chevron; Marathon Petroleum Corp.; Equinor; ConocoPhillips; Pioneer Natural Resources; Devon Energy Corp.; and APA Corp.

According to his office, those companies made $86 billion in profit during the second quarter of this year. In the first three quarters of 2021, the world’s 24 largest oil and gas companies made a combined $174 billion in net income, his office added.

The report shows that 11 companies brought in over $1 trillion in 2021 in total revenue, up from cratering gasoline demand during the COVID-19 pandemic, but not above the $1.3 trillion they made in 2018. As of the first quarter of 2022, they made $354 billion.

Chevron CEO Michael Wirth brought in the highest compensation package, at $33 million, Pascrell’s office said in March, while ConocoPhillips Chairman and CEO Ryan Lance had a $28 million compensation package.

The 11 oil companies spent a combined $11 billion in stock buybacks in just the first three months of 2022,nearly beating the $13 billion spent on stock buybacks during all of 2021.

“While it is bad enough American drivers are facing record high gas prices as Vladimir Putin conducts an illegal invasion of Ukraine, it is unpatriotic and unconscionable for any corporation to use the ongoing conflict as cover to gouge drivers even more,” Pascrell said in the letter, dated March 10.

This article originally appeared on NorthJersey.com: NJ gas prices show oil companies are 'robbing' drivers, says Pascrell