US Edition
Wright: 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.
31 Articles
31 Articles
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
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…
Energy Secretary: Gas Prices Could Stay Above $3 Per Gallon Until Next Year
WASHINGTON, April 19 (Reuters) – U.S. Energy Secretary Chris Wright said on Sunday he believes gas prices have peaked but predicted that they may stay above $3 per gallon until next year. Gas prices have risen during the U.S. and Israeli war on Iran and Iranian attacks on nearby countries, creating political headwinds for President Donald Trump ahead of the November midterm elections, where his Republican Party will defend slim majorities in the…
Gas prices rose during the U.S. and Israel war against Iran, creating opposite political winds for U.S. President Donald Trump
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