Energy Secretary Predicts Gas Prices May Stay High
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Washington — Energy Secretary Chris Wright said on Sunday on CNN that U.S. gasoline prices likely peaked in the week following a surge tied to the Iran conflict but could remain above $3 per gallon until next year; officials attributed recent increases to shipping restrictions near the Strait of Hormuz and related regional incidents.
This week, officials and market trackers reported national averages around $4.00–$4.11 per gallon, with state-level year-over-year increases as high as 42.5% in Kentucky; President Trump publicly disputed Wright's timeline on Monday, while Treasury Secretary Scott Bessent offered a quicker summer decline estimate, and analysts said prices should fall once the conflict resolves.
More context
Timeline
- 1. Feb 28, Operation Epicy Fury begins, escalating Iran-related conflict.
- 2. Subsequent weeks, shipping restrictions and regional incidents disrupt Strait of Hormuz transit.
- 3. Early April, U.S. seizes an Iranian vessel; oil prices rise.
- 4. April 15, 2026, national average gasoline reported at $4.11 per gallon.
- 5. This week, Energy Secretary Wright and other officials provide differing timelines for price normalization.
Why it matters
High gas prices can hit your wallet hard. If you're in a state like Kentucky, you're feeling a 42.5% increase from last year. It's a good time to consider carpooling, using public transit, or biking to save money.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
