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Bessent: ‘Help is on the way’ on gas prices

On Monday, Treasury Secretary Scott Bessent said gas prices nearing $4.50 will fall in weeks as supply stabilizes. "Help is on the way," Bessent told Fox News's Americas Newsroom.
The market deficit of about 10 million barrels a day stems from Iranian military interference throttling shipping through the Strait of Hormuz, according to Bessent.
Bessent noted on Fox News that The UAE is pumping more oil and more than 150 cargo carriers may transit the Strait as pent-up demand clears.
President Trump vowed Sunday to protect vessels in the Persian Gulf, while Central Command confirmed Monday that Navy forces destroyed six Iranian boats in response.
Current market data shows gas prices averaging about $4.46 today, up sharply from about $3.17 at this time last year, though Bessent expects the spike to resolve quickly.

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Bessent reassures Americans 'help is on the way' amid surging gas prices

Iran's control over the Strait of Hormuz has impacted shipping through the Persian Gulf, resulting in higher oil and gas prices in the United States. The average price of a gallon of gas in the U.S. on Monday was about $4.46.

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Bessent: ‘Help is on the way’ on gas prices

Treasury Secretary Scott Bessent said Monday that “help is on the way” when it comes to gas prices, with a gallon of regular gas in the U.S. nearing an average of $4.50. “Help is on the way as of today. The way to think about it is the market, because of the conflict around the...

8 hours ago

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