Energy Secretary Chris Wright no longer thinks it is “very possible” for gas prices to drop before the start of the summer months.
“I can’t make any predictions,” Wright, 61, told NBC’s Meet the Press host Kristen Welker after she showed the secretary a clip of his March remarks, in which he said there was a “very good chance” gas would fall below $3 by the busy summer travel season.
Gas prices have been rising globally since the start of the U.S. war with Iran, which has caused a continued blockade of the Strait of Hormuz, through which roughly a quarter of global oil flows.
According to AAA Gas Prices data, the national average price for a gallon of regular gasoline rose by 25 cents for the second consecutive week to $4.55—$1.40 higher than a year ago and the highest level since 2022.
“We’re in a negotiating period,” Wright told Welker, noting that “obviously this part of the conflict has gone on a little longer.” He did not speak further on when gas prices could fall.
The secretary’s tone was markedly different from March, when he acknowledged that “there’s no guarantees at war” but seemed optimistic that bringing gasoline prices under $3 before the start of summer was “a goal of the administration and very possible.”
The White House and the Department of Energy did not immediately respond to a request for comment.
Wright’s evolving narrative aligns with what economists have been saying about the ongoing crisis.
Economist Henrietta Treyz told MS NOW on Monday that the U.S. is “on track to get to $5 or even above by Memorial Day,” and affirmed that it would take “years” for prices to fall back to anything with a “$2” in front.
The soaring cost of jet fuel also pushed Spirit Airlines over the edge, as the low-cost carrier ceased all operations last Saturday, leaving many Americans with fewer travel options over the summer, as reported by The Guardian.
Still, Wright’s more cautious tone on gas prices has not appeared to please his boss, President Donald Trump, 79.
After the secretary told CNN in April that he did not think gas prices would drop below $3 a gallon until at least 2027, the president pushed back on the statement, telling The Hill in a phone interview: “No, I think he’s wrong on that. Totally wrong.”
Instead, Trump said he believed prices would dip “as soon as this ends,” in reference to his unpopular war in Iran.
On Sunday, Iran said it had responded to U.S. proposals to end the war, though the details and terms of the response have not yet been disclosed.
