US energy chief says gas prices could stay above $3 per gallon until next year

InternationalUS energy chief says gas prices could stay above $3 per gallon until next yearBy Reuters -Apr 20, 2026U.S. Energy Secretary Chris Wright said on Sunday he believes gas prices have peaked but predicted that they may stay above $3 per gallon ​until next year. Gas prices have risen during the U.S. and Israeli war on Iran and ‌Iranian attacks on nearby countries, creating political headwinds for President Donald Trump ahead of the November midterm elections, where his Republican Party will defend slim majorities in the Senate and House of Representatives. Gas below $3 a gallon “could happen later this ​year, that might not happen until next year. But prices have likely peaked, and ​they’ll start going down,” Wright told CNN’s “State of the Union” program. “Certainly with the ⁠resolution of this conflict, you’ll see prices go down.” Trump administration officials have offered differing views on ​how gas prices may shift. Treasury Secretary Scott Bessent last week predicted gas prices would fall to the $3 ​per gallon range this summer, while Wright on Sunday laid out a lengthier likely timeline to reach that price. Trump himself has said that gas prices may remain elevated until November. All of them have predicted gas prices will eventually get cheaper ​once the Iran war ends. “Under $3 a gallon is pretty tremendous in inflation-adjusted terms,” Wright said. “We’ll get ​back there for sure.” The average price for a gallon of regular gas on Sunday was $4.05, according to an estimate ‌by ⁠AAA, compared to $3.16 a year ago. The war’s impact on oil delivery also has airlines warning of a potential jet fuel shortage. U.S. Transportation Secretary Sean Duffy on Sunday said jet fuel will become more plentiful as the Iran conflict recedes. “So yes, a small disruption, hopefully for a short period of time, ​but in the long ​run it becomes cheaper ⁠for Americans to travel because of decreased jet fuel prices,” Duffy said. The U.S. and Iran on Thursday agreed to a 10-d...