Chris Wright, Secretary of Energy, predicts that gasoline will drop, but until 2027

The Secretary of Energy of the United States, Chris Wright assured that gasoline prices in the country could have recently peakedbut warned that they are not expected to fall below $3 per gallon on a sustained basis until 2027, in a context marked by geopolitical tensions and global energy disruptions.

During an interview on CNN’s Reveal of the Union, The official explained that the increase in fuel prices responds largely to the war in Iran and the closure of the strategic Strait of Hormuz.through which nearly 20% of the world’s oil transits.

According to data from the American Automobile Association, the national average price of gasoline is around $4 per gallon, a significant increase compared to the nearly $2.90 recorded before the start of the conflict in late February.

Wright said that, although prices have begun to stabilize after reaching a recent peak, uncertainty persists until the conflict in the Middle East is resolved.. “It is possible that prices have peaked and will begin to decline slowly in the coming weeks,” he stated.

The official also noted that reopening the Strait of Hormuz would be key to easing pressure on energy markets. However, he acknowledged that the area is currently “not safe” and that any solution will depend on diplomatic and military advances.

In parallel, Treasury Secretary Scott Bessent has estimated that prices could approach $3 per gallon again by next summer.although Wright was more cautious and proposed a more distant horizon.

Energy debate and internal politics

The Energy Secretary’s statements come amid a broader debate over the energy policy of President Donald Trump’s administration, which has prioritized a push for fossil fuels and domestic oil production.

Wright defended this strategy and questioned the effectiveness of renewable energy to face crises such as the loyalist.. According to him, despite global investments in green energy during recent decades, they have not been able to significantly replace traditional fuels and, in his opinion, have contributed to increasing costs.

In this context, the Environmental Protection Agency has advanced a deregulation policy that seeks to facilitate domestic energy production, considered by the White House as a pillar to achieve energy independence.

Global repercussions and inflation

Rising fuel prices have had a direct impact on US inflationwhich in March reached 3.3% year-on-year, mainly driven by the increase in energy costs.

At the international level, countries dependent on oil imports also face inflationary pressures, which shows the sensitivity of the world market to supply interruptions.

While diplomatic efforts to end the conflict with Iran continue, Washington maintains pressure measures, including a naval blockade, in the hope of stabilizing the region and, with it, energy prices.

For now, the prospect of cheaper gasoline in the United States remains tied to geopolitical factors which, according to authorities, could take years to resolve.

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