BUSINESS

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.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

Feb 28, Operation Epicy Fury begins, escalating Iran-related conflict.
Subsequent weeks, shipping restrictions and regional incidents disrupt Strait of Hormuz transit.
Early April, U.S. seizes an Iranian vessel; oil prices rise.
April 15, 2026, national average gasoline reported at $4.11 per gallon.
This week, Energy Secretary Wright and other officials provide differing timelines for price normalization.

Why This Matters to You

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.

The Bottom Line

Gas prices may stay above $3 per gallon until next year, according to Energy Secretary Wright. However, other officials and analysts predict a summer decline. It's a waiting game until the Iran conflict resolves. Worth forwarding if you know someone feeling the pinch at the pump.