Energy Secretary Says Gas Prices May Stay Above $3 Until 2027

Secretary of Energy Chris Wright said on Sunday that gasoline prices in the United States had probably peaked but acknowledged that they could remain elevated for months, undermining President Trump’s earlier claim that high fuel prices would be “short-term.”

Mr. Wright had said in early March that the average gas price in the United States would fall below $3 a gallon within “weeks” after President Trump and Israel initiated airstrikes against Iran in late February. But on Sunday, Mr. Wright appeared to backtrack in an appearance on the CNN program “State of the Union” after the host, Jake Tapper, asked him when it would be “realistic” for Americans to see $3 per gallon prices at the pump.

“I don’t know,” Mr. Wright said. “That could happen later this year. That might not happen until next year. But prices have likely peaked.”

When asked again if he meant that gas prices might not return to prewar levels until 2027, Mr. Wright suggested that such price levels were “pretty tremendous” after accounting for inflation. Before the war began, the average national price for a gallon of regular gas was $2.98. On Sunday, the average price was $4.05 per gallon, according to the AAA motor club.

Iran has responded to the U.S. and Israeli attacks by disrupting shipping traffic through the Strait of Hormuz, where a significant share of the world’s energy flows. The disruption has pushed up global oil prices and led to sticker shock for U.S. consumers at the gas pump.

That has created a political headache for Mr. Trump, who promised affordable gas prices during his 2024 presidential campaign. Republicans are worried about their chances of keeping their congressional majorities in the upcoming November midterm elections as the war drives up the costs of energy and goods.

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