Energy Secretary Says Gas Prices May Not Fall Below $3 Until 2027

Energy Secretary Chris Wright delivered a blunt message on CNN’s State of the Union on Sunday: gasoline prices may have peaked, but Americans might not see the national average fall below $3 a gallon until later this year, and possibly not until 2027. That outlook cut against President Donald Trump’s earlier promise that higher prices would be short-term, exposing a widening credibility gap inside an administration trying to calm voters as fuel costs climb.

Wright tied the jump to the war in Iran and the disruption around the Strait of Hormuz, the narrow shipping lane that handles a large share of the world’s oil flows. He said prices should ease when the conflict is resolved, but his forecast suggested the relief could take far longer than the White House has been implying. CNN said the interview aired at 11:37 a.m. EDT and that Wright told Jake Tapper prices had likely peaked.

The stakes are immediate. AAA reported the national average for regular gasoline at $4.16 on April 9, the highest since early August 2022. By mid-April, depending on the day and the tracker, the average was still hovering around $4.04 to $4.08 a gallon. USA Today reported the national average was $2.98 on February 26, just two days before the Iran war began, underscoring how quickly the market turned.

The latest rise has been tied to the U.S. and Israel attacks on Iran and to repeated disruptions in the Strait of Hormuz. The Associated Press reported that the standoff escalated again Saturday when Iran reversed an earlier reopening of the waterway and fired on ships attempting to pass after a U.S. blockade of Iranian ports. Reuters, CNN, CNBC and Politico have all described the conflict as a central driver of the fuel shock.

The political consequences could be severe. Trump told Fox News that gas prices could be “the same or maybe a little bit higher” by the November 2026 midterms, when Republicans will defend slim majorities in both the House and Senate. That leaves the White House trying to sell a temporary shock while its own energy secretary is warning that sub-$3 gas may remain out of reach for another year or more. In Washington, the mismatch is becoming part of the story itself.