President Donald Trump pushed back Monday on comments from Energy Secretary Chris Wright about the timeline for lower gas prices, saying he believes relief could come sooner than expected.
In a phone interview with The Hill, Trump said Wright was “totally wrong” in suggesting gas prices might not fall below $3 per gallon until next year.
Instead, Trump tied any meaningful drop in prices to the ongoing conflict involving Iran. “As soon as this ends,” he said, indicating he expects prices to ease once tensions subside.
Wright, speaking on CNN a day earlier, struck a more cautious tone. He said it’s possible prices could dip later this year, but acknowledged it may take until 2027 depending on how the situation develops, particularly with disruptions in the Strait of Hormuz — a key global shipping route for oil.
“Prices have likely peaked and should start to come down,” Wright said, adding that a resolution to the conflict would help bring broader energy costs down.
His outlook differs from Treasury Secretary Scott Bessent, who said last week that gas prices could return to the $3 range as early as this summer.
Global oil markets have been on edge amid escalating tensions tied to Iran and shipping restrictions through the Strait of Hormuz. In the U.S., gas prices have climbed past $4 per gallon — levels not seen since the early months following Russia’s invasion of Ukraine in 2022. AAA reported the national average at $4 on Monday.
Oil prices also jumped after the U.S. seized an Iranian vessel near the Strait over the weekend. Brent crude rose to about $94 per barrel, while West Texas Intermediate hovered near $88.
At the same time, the U.S. has been enforcing a blockade targeting Iranian ports, further tightening supply. According to Reuters, Pakistan’s army chief, Gen. Asim Munir, raised concerns about the blockade during discussions with Trump, calling it a barrier to negotiations. Trump, however, disputed that account.
“He didn’t recommend anything on the blockade,” Trump said. “It’s very strong. They’re losing about $500 million a day. We control it — they don’t.”
Vice President JD Vance is expected to head a U.S. delegation to Islamabad for potential talks involving Pakistani and Iranian officials. Still, Iran’s Foreign Ministry said Monday that no final decision has been made on whether negotiations with the U.S. will move forward.
