U.S. Energy Secretary Chris Wright said Americans may have to wait longer for relief at the pump. He warned that gas prices could remain above $3 per gallon into next year.
Speaking on State of the Union, Wright said he could not provide a firm timeline for when prices would fall back to that level. “I don’t know,” he said when asked when $3 gas might return. “That could happen later this year. That might not happen until next year. But prices have likely peaked.”
As of April 19, the national average price for regular gasoline stood at $4.04 per gallon. The data comes from the American Automobile Association. Prices are highest across the West Coast and Northeast. That reflects ongoing pressure on supply and global energy markets.
Wright linked the elevated prices to geopolitical tensions, especially the ongoing conflict involving Iran. He said prices are expected to decline once the situation stabilizes. The conflict has disrupted global energy flows. This includes shipments through the Strait of Hormuz. It is a critical route that carries roughly one-fifth of the world’s oil and gas.
Military activity in the region has added more pressure. The U.S. has enforced a blockade on Iranian ports. Officials say multiple vessels have been intercepted. On Sunday, American forces boarded an Iranian-flagged cargo ship. It was accused of violating the blockade. The incident added to tensions and market uncertainty.
The cautious outlook from Wright contrasts with comments from Treasury Secretary Scott Bessent. He recently said he was “optimistic” gas prices could fall back to $3 per gallon between late June and September. He also cautioned that his forecast depends on how negotiations with Iran unfold.
Those talks now appear uncertain. A planned second round of negotiations was reportedly scrapped. Tensions rose after U.S. actions at sea.
Government projections also suggest prices may stay elevated. The Energy Information Administration estimated earlier this month that gas prices could average $4.30 per gallon in April. Longer-term forecasts show prices easing. They still remain above $3, with an average of $3.46 projected for 2027.
Before the current conflict escalated, gas prices had briefly dipped below $3 per gallon in late February. Since then, supply disruptions and rising geopolitical risks have pushed costs higher. Consumers now face continued pressure at the pump.