WASHINGTON — Energy Secretary Chris Wright announced on Sunday that gas prices, which reached their highest point about a week ago, are expected to gradually decrease in the following weeks as the conflict in Iran draws to a close.
Speaking on CNN’s “State of the Union,” Wright remarked, “Ending this 47-year conflict and ensuring Iran does not develop nuclear weapons has understandably caused some short-term disruptions. However, I believe we have managed the situation exceptionally well.”
Wright highlighted, “Amidst the largest energy supply disruption ever, we saw gas prices peak last week, still a dollar below the highest levels recorded during the Biden administration.”
He warned that it might take until next year for gas prices to drop below $3 per gallon again, a figure seen prior to the onset of Operation Epicy Fury on February 28. Wright emphasized that this price range is significant when adjusted for inflation.
The American Automobile Association reports that the national average for gas prices currently stands at $4.04 per gallon.
Addressing questions about reducing prices to $3 a gallon, Wright stated, “While it might not occur until next year, prices have likely reached their peak and will begin to decline. With the resolution of this conflict, a decrease in prices is certainly expected.”
