Trump Energy Secretary Predicts Gas Prices Will Not Drop Below Three Dollars Until 2027

The US Secretary of Energy, Chris Wright, acknowledged during a congressional hearing in Washington DC that American consumers may not see gas prices drop below three dollars a gallon until at least 2027. With average prices currently soaring to four dollars a gallon, Wright was unable to provide a definitive timeline for when prices might stabilise.

When asked by CNN’s Jake Tapper about the possibility of prices reverting to levels seen in December, Wright stated that this could happen later in the year or might take until the following year. Despite this uncertainty, he suggested that prices have likely peaked and would begin to decrease, contingent on geopolitical factors.

The energy secretary indicated that a resolution to the ongoing conflict in Iran, which erupted in late February, would positively impact energy prices. Following Iran’s aggressive response to US and Israeli actions in the region, gas prices surged significantly after the military escalation. Prior to the outbreak of hostilities, average gas prices stood at two dollars and ninety-eight cents but swiftly rose to approximately three dollars and ninety-eight cents by late March.

Wright’s remarks came as part of a broader discussion on energy policy, which has been a focal point of Donald Trump’s administration since he promised to curb rising gasoline costs during his 2024 campaign. He has previously assured the public that gas prices could fall below two dollars a gallon, a pledge that now seems increasingly distant.

Public sentiment around the administration’s handling of both the conflict in Iran and economic inflation remains largely negative, with a recent NBC poll indicating that a significant majority of Americans disapprove of Trump’s approach in these areas.

Wright’s statements have evolved since earlier interviews, where he expressed optimism regarding a potential drop in gasoline prices by the summer. As the situation develops, the realignment of energy prices will remain a critical indicator for consumers and policymakers alike.