Trump's energy boss: gas may stay above $3-per-gallon into 2027
Summary
U.S. gas prices may not go below $3 per gallon until next year, according to Energy Secretary Chris Wright. Prices have recently been high due to conflict in Iran but could decrease if the situation improves.Key Facts
- Energy Secretary Chris Wright said gas might stay above $3 per gallon until next year.
- The Iran war has caused gas prices to rise in the U.S.
- Gas prices reached $4.16 per gallon recently and are now at $4.05.
- Prices this year are still lower than the highest point seen in 2022.
- Wright said prices have probably peaked and will drop once the conflict ends.
- About 51% of adults say gas prices have been a financial hardship, according to a recent poll.
- Wright praised the Trump administration for handling the gas price changes.
- Gas prices under $3 per gallon are considered very low when adjusting for inflation.
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