U.S. Secretary of Energy Chris Wright said on Sunday that while gasoline prices have likely peaked and will continue to decline, they will return to the $3 level. per gallon (3.79 liters) – the price before the war with Iran – may not happen until the end of the year.
The US president referred to this statement in a telephone interview. -I think he's wrong. He's totally wrong, Donald Trump told the Hill. He added that prices will fall as soon as the war with Iran ends.
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Currently, the average price of a gallon of gasoline in the US is $4.04. — according to AAA (American Automobile Association). That's over $1. more than before the war with Iran began.
Donald Trump on the blockade of the Strait of Hormuz. “Very strong”
In the context of hostilities, Trump denied that the mediator in the talks with Iran, General Asim Munir, the commander of the Pakistani army, advised him to abandon the blockade of Iranian ports so as not to hinder the negotiations. The president said that the Pakistani commander did not recommend anything regarding this action.
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— The blockade is very strong, very strong. They lose $500 million. a day because of this blockade,” Trump said, referring to Iran. He noted that the United States controls the Strait of Hormuz.
Experts have doubts. Oil prices may not return to previous levels anytime soon
According to experts, even if the US quickly restores free navigation through the Strait of Hormuz, oil prices may not return to previous levels for many months. The delay is due to the time it takes for Gulf countries to resume production and higher insurance costs.
Previously, Finance Secretary Scott Bessent estimated that prices should return to normal between July and November. Trump himself has speculated that gas prices may not fall at all — or even rise — before the November general election. However, he later changed his forecasts.
