The energy company joined BP in flagging that weaker prices would weigh on results. Shell said earlier it anticipated a hit from weaker performance in its core integrated gas division.

Michigan gas prices edged close this weekend to a high for 2025, averaging $3.28 a gallon on Saturday, just two cents less than the high for the year but still less than what they were a year ago.

National gas prices are at their lowest July levels since 2021. Regional prices have also seen a small decline over the last week.