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Fuel prices are displayed on a gas station sign in Brentwood, Tennessee, on April 19, 2026.
(Photo by Camden Hall/NurPhoto via Getty Images)
Trump Claims His Own Energy Secretary Is 'Totally Wrong' About When Gas Will Go Back Below $3
US Energy Secretary Chris Wright told CNN on Sunday that gas prices might not drop below $3 until next year.
Apr 20, 2026
US President Donald Trump on Monday said his own energy secretary, former fracking executive Chris Wright, was incorrect when he said gas prices may not get below $3 per gallon until next year.
In a Sunday interview with CNN's Jake Tapper, Wright was asked when Americans could expect to see gas prices fall significantly after they spiked to over $4 per gallon on average nationwide because of Trump's illegal war of choice with Iran.
"I don't know," Wright responded. "That could happen later this year. That might not happen until next year."
In an interview with The Hill on Monday, Trump said Wright was "totally wrong" about the projection, and insisted that gas prices would plummet "as soon as [the war with Iran] ends."
Despite Trump's claims that gas prices will come down rapidly after the end of the war, The New York Times reported on Monday that the negative effects of Iran's closure of the Strait of Hormuz, which has choked off roughly 20% of global petroleum shipments, is just starting to be felt.
The impact of the strait's closure is being felt most acutely in East Asia, where oil supply shortages are having a ripple effect that is likely to spread throughout the world if the strait remains closed for much longer.
"Even if there is a peace deal soon," the Times reported, "the future... will likely include months of canceled flights, surging food prices, factory pauses, delayed shipments and empty shelves for products long considered quick and easy to buy worldwide: plastic bags, instant noodles, vaccines, syringes, lipstick, microchips and sportswear."
The Times added that "even if the Strait of Hormuz stabilizes tomorrow, it could take years for oil and gas output and shipping to reach fat prewar levels."
Bob McNally, founder and president of the consulting firm Rapidan Energy Group, echoed the Times' analysis in an interview with Newsweek published on Monday.
"It is likely we will feel the effects of energy disruptions through the end of the year," McNally explained. "Even if the conflict and disruptions were to end today, the ripple effects would be felt for many months. Just restarting Gulf production and flows would take three to four months. Repairing damage to facilities could take longer."
Mark Zandi, chief economist at Moody's Analytics, also projected more financial pain for US consumers in the months ahead.
"It doesn’t look like gasoline prices will return to pre-war levels anytime soon," Zandi wrote in a Sunday social media post. "That’s even if the war ends soon, which looks iffy, to say the least. And this abstracts from what Americans will need to shell out for higher prices on everything from groceries to airfares in the coming weeks and months. The financial pain caused by the war and its fallout on consumer spending and the economy is set to intensify."
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US President Donald Trump on Monday said his own energy secretary, former fracking executive Chris Wright, was incorrect when he said gas prices may not get below $3 per gallon until next year.
In a Sunday interview with CNN's Jake Tapper, Wright was asked when Americans could expect to see gas prices fall significantly after they spiked to over $4 per gallon on average nationwide because of Trump's illegal war of choice with Iran.
"I don't know," Wright responded. "That could happen later this year. That might not happen until next year."
In an interview with The Hill on Monday, Trump said Wright was "totally wrong" about the projection, and insisted that gas prices would plummet "as soon as [the war with Iran] ends."
Despite Trump's claims that gas prices will come down rapidly after the end of the war, The New York Times reported on Monday that the negative effects of Iran's closure of the Strait of Hormuz, which has choked off roughly 20% of global petroleum shipments, is just starting to be felt.
The impact of the strait's closure is being felt most acutely in East Asia, where oil supply shortages are having a ripple effect that is likely to spread throughout the world if the strait remains closed for much longer.
"Even if there is a peace deal soon," the Times reported, "the future... will likely include months of canceled flights, surging food prices, factory pauses, delayed shipments and empty shelves for products long considered quick and easy to buy worldwide: plastic bags, instant noodles, vaccines, syringes, lipstick, microchips and sportswear."
The Times added that "even if the Strait of Hormuz stabilizes tomorrow, it could take years for oil and gas output and shipping to reach fat prewar levels."
Bob McNally, founder and president of the consulting firm Rapidan Energy Group, echoed the Times' analysis in an interview with Newsweek published on Monday.
"It is likely we will feel the effects of energy disruptions through the end of the year," McNally explained. "Even if the conflict and disruptions were to end today, the ripple effects would be felt for many months. Just restarting Gulf production and flows would take three to four months. Repairing damage to facilities could take longer."
Mark Zandi, chief economist at Moody's Analytics, also projected more financial pain for US consumers in the months ahead.
"It doesn’t look like gasoline prices will return to pre-war levels anytime soon," Zandi wrote in a Sunday social media post. "That’s even if the war ends soon, which looks iffy, to say the least. And this abstracts from what Americans will need to shell out for higher prices on everything from groceries to airfares in the coming weeks and months. The financial pain caused by the war and its fallout on consumer spending and the economy is set to intensify."
From Your Site Articles
- 'You Should Be Alarmed,' Says Economist as Trump's Iran War Pushes US Gas Past $4 Per Gallon ›
- Trump Administration Proposes Gutting Mile-Per-Gallon Auto Rule ›
- The Trump Administration's $3 Meal: 'A Piece of Chicken, a Piece of Broccoli, Corn Tortilla, and One Other Thing' ›
Related Articles Around the Web
US President Donald Trump on Monday said his own energy secretary, former fracking executive Chris Wright, was incorrect when he said gas prices may not get below $3 per gallon until next year.
In a Sunday interview with CNN's Jake Tapper, Wright was asked when Americans could expect to see gas prices fall significantly after they spiked to over $4 per gallon on average nationwide because of Trump's illegal war of choice with Iran.
"I don't know," Wright responded. "That could happen later this year. That might not happen until next year."
In an interview with The Hill on Monday, Trump said Wright was "totally wrong" about the projection, and insisted that gas prices would plummet "as soon as [the war with Iran] ends."
Despite Trump's claims that gas prices will come down rapidly after the end of the war, The New York Times reported on Monday that the negative effects of Iran's closure of the Strait of Hormuz, which has choked off roughly 20% of global petroleum shipments, is just starting to be felt.
The impact of the strait's closure is being felt most acutely in East Asia, where oil supply shortages are having a ripple effect that is likely to spread throughout the world if the strait remains closed for much longer.
"Even if there is a peace deal soon," the Times reported, "the future... will likely include months of canceled flights, surging food prices, factory pauses, delayed shipments and empty shelves for products long considered quick and easy to buy worldwide: plastic bags, instant noodles, vaccines, syringes, lipstick, microchips and sportswear."
The Times added that "even if the Strait of Hormuz stabilizes tomorrow, it could take years for oil and gas output and shipping to reach fat prewar levels."
Bob McNally, founder and president of the consulting firm Rapidan Energy Group, echoed the Times' analysis in an interview with Newsweek published on Monday.
"It is likely we will feel the effects of energy disruptions through the end of the year," McNally explained. "Even if the conflict and disruptions were to end today, the ripple effects would be felt for many months. Just restarting Gulf production and flows would take three to four months. Repairing damage to facilities could take longer."
Mark Zandi, chief economist at Moody's Analytics, also projected more financial pain for US consumers in the months ahead.
"It doesn’t look like gasoline prices will return to pre-war levels anytime soon," Zandi wrote in a Sunday social media post. "That’s even if the war ends soon, which looks iffy, to say the least. And this abstracts from what Americans will need to shell out for higher prices on everything from groceries to airfares in the coming weeks and months. The financial pain caused by the war and its fallout on consumer spending and the economy is set to intensify."
From Your Site Articles
- 'You Should Be Alarmed,' Says Economist as Trump's Iran War Pushes US Gas Past $4 Per Gallon ›
- Trump Administration Proposes Gutting Mile-Per-Gallon Auto Rule ›
- The Trump Administration's $3 Meal: 'A Piece of Chicken, a Piece of Broccoli, Corn Tortilla, and One Other Thing' ›
Related Articles Around the Web
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