Trump affirms that Secretary of Energy is “totally wrong”, and that gasoline will go down before 2027

The president of the United States, Donald Trump rejected the forecasts of his Secretary of Energy, Chris Wright, on the evolution of gasoline prices and assured that these could decrease sooner than estimated, once the conflict with Iran ends.

In a telephone interview with The Hill, Trump described Wright’s analysis as “totally wrong.”who had warned that the price of fuel may not fall below $3 per gallon until 2027 or, at best, until next year.

“No, I think he is wrong about that,” the president insisted.by emphasizing that the reduction in energy costs will directly depend on the outcome of the crisis in the Middle East.

The president thus reacted to the statements that Wright offered on Sunday to CNN, where he suggested that a gallon of fuel might not drop below the $3 barrier until the end of this year or even into 2027, due to global instability.

Furthermore, the secretary also noted that although prices may have peaked, uncertainty remains due to insecurity in the region. Even so, he agreed that an eventual resolution of the conflict would bring about a decrease in energy costs.

Geopolitical tensions impact the energy market

The rise in gasoline prices in the United States is closely linked to tensions around the Strait of Hormuza key route for the transportation of crude oil worldwide. Restrictions on maritime transit in this area, derived from the conflict between Washington and Tehran, have shaken international markets and raised oil prices.

Currently, the average price of gasoline in the United States is around $4 per gallon, according to data from the American Automobile Association.a level that has not been seen since 2022 after the Russian invasion of Ukraine. In parallel, Brent crude oil has been close to $94 per barrel, while West Texas Intermediate is around $88.

Conflicting positions within the government

The statements of the Secretary of Energy also contrast with those of the Secretary of the Treasury, Scott Bessentwho recently projected that prices could drop to around $3 per gallon by next summer.

The increase in fuel costs has had a direct impact on inflation, which in March reached 3.3% year-on-year, driven largely by the rise in energy prices.

At the international level, the Trump administration has intensified pressure on Iran through a blockade of its ports, a measure that, according to the president himself, has generated million-dollar daily losses for the Persian country. However, this hardening has also complicated diplomatic efforts.

According to reports, the head of Pakistan’s army, Asim Munir, would have indicated that the blockade represents an obstacle to negotiations. Trump, however, denied that a direct recommendation in that regard had been made to him.

Meanwhile, Vice President JD Vance will lead a US delegation to Islamabad for talks with Pakistani and Iranian representatives.. Despite this, Iranian authorities have indicated that there is still no final decision on the possibility of resuming dialogue with Washington.

In this context, the direction of gasoline prices continues to be tied to both geopolitical factors and the evolution of international negotiations, in the midst of a scenario marked by volatility and uncertainty.

Keep reading:

• Chris Wright, Secretary of Energy, predicts that gasoline will go down, but until 2027
• Kamala Harris rants against Donald Trump over rising gas prices
• Trump boasts that he expected much worse oil prices due to the war in Iran