When Will Gas Prices Drop? Trump, Energy Secretary Disagree

President Donald Trump said that Energy Secretary Christopher Wright was "totally wrong" in claiming that the US will not return to $3-a-gallon gas until 2027.

Wright's Claim: In an interview with Jake Tapper from CNN (Lean Left bias), Wright said that gas prices could fall "later this year," or it "might not happen until next year." Wright added that gas "prices have likely peaked and they will start going down." But, "Under $3 a gallon is pretty tremendous — in inflation-adjusted terms," according to Wright.

"Totally Wrong": Trump, in a phone interview with The Hill (Center) on Monday said "No, I think he's wrong on that. Totally wrong," adding that gas prices are going to drop "as soon as this [oil blockade in Strait of Hormuz] ends."

Current Prices: According to AAA, US fuel prices on Monday are at an average of $4.04 per gallon.

Trump and Bessent: Fox Business (Lean Right) highlighted that Both Trump and Treasury Secretary Scott Bessent have "noted for weeks that the U.S. is a net exporter of oil, has plenty of supply, with only a fraction of oil from the Middle East." Bessent called local gas stations who raised their prices by guessing and expecting something that would never come "bad actors" considering the supply shortages were happening elsewhere around the globe but not in the US. Bessent said "We'll be looking at Treasury to try to keep the retail gas stations honest—that you did this on the way up, better be doing this on the way down," adding that "I am sure the president will call out anyone who's a bad actor."

Flip-Flop: Jim Vorel, writing opinion for Jezebel (Left) asked "Where, oh where, could Chris Wright have gotten such a crazy idea, to state that gas prices wouldn't come down by the end of 2026?" The article suggested that Wright's statement came from "Donald Trump himself," explaining that Trump told Maria Bartiromo from Fox News (Right) that gas prices could be better by midterm elections, but also "could be the same or maybe a little bit higher." The Jezebel article suggested that Wright simply repeated what Trump had said, saying that "Unfortunately, that happens to be the President's favorite time to abruptly flip-flop his position and throw you to the wolves."

No Magical Recovery: Vorel also asserted that "Gas and oil prices are not going to magically recover to pre-war levels in a short period, even if/when a final truce between the United States, Israel and Iran is announced." Vorel explained that there will be "dramatic, short-term drops in oil prices because the market is reacting more to sentiment than it is to actual economic conditions," but pre-war levels of oil from the Strait of Hormuz "will ultimately take months or years , thanks to damage to oil infrastructure, pipelines, oil and gas fields, and wide-ranging disruption of shipping."

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