US EditionWright: Gas Prices Dropping Below $3 ‘Might Not Happen Until Next Year’
- On Sunday, Energy Secretary Chris Wright predicted U.S. gas prices may remain above $3 per gallon until next year, citing ongoing disruption from the Iran conflict and Strait of Hormuz closure.
- Since the war began Feb. 28, gas prices soared to about $4.04 per gallon on average according to AAA, as Tehran's closure of the Strait of Hormuz disrupted global energy supply.
- Wright told host Jake Tapper on CNN's "State of the Union" that prices "could happen later this year, that might not happen until next year. But prices have likely peaked, and they'll start going down."
- President Donald Trump accused Iran of violating a 10-day ceasefire agreed Thursday, citing weekend attacks on ships in the Strait of Hormuz and threatening severe retaliation.
- U.S. envoys are set to meet Iranian counterparts Monday in Islamabad, Pakistan for talks aimed at ending the war, though the Islamic Revolutionary Guard Corps reasserted control over the waterway Saturday citing U.S. naval blockade.
42 Articles
42 Articles
Trump's Energy Secretary Has 'Outdated' Optimism On Gas Prices, Says Economist, Hormuz Risks Mean 'Expens
Economist Justin Wolfers, on Monday, highlighted growing concerns over prolonged high gasoline prices amid ongoing tensions in the Strait of Hormuz. Hormuz Disruption To Fuel Long-Term Gas Prices Wolfer, in a post on X, said "Strait of Hormuz uncertainty isn’t just pushing up today’s gas prices — it’s lifting futures through 2027 and beyond.” Wolfers said that Energy Secretary Chris Wright’s optimism may already be “outdated.” The economist post…
Wright argued that although prices began to stabilize, uncertainty persists as long as the conflict in the Middle East is not resolved
US gas prices may stay above $3 per gallon until next year, says energy chief
US Energy Secretary Chris Wright warned gas prices may stay above $3 per gallon until next year, as oil surged over 7 per cent after the US seized an Iranian ship, raising global supply concerns
The Independent
The Independent (US)Energy Secretary admits gas prices might not drop until next year
‘I don’t know’ when gas prices will come down, Trump energy chief tells CNN
Gas Prices May Not Drop Under $3 Until 2027, Energy Secretary Says
Pain at the pump might not ease up for American consumers until 2027, according to Energy Secretary Chris Wright, who said on April 19 that the price of a regular gallon of gas could stay above $3 for the rest of the year. Wright said a price of $3 per gallon of gas “could happen later this year, [but] that might not happen until next year” in an interview that aired on CNN’s “State of the Union” program Sunday. “But prices have likely peaked…
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