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Business April 21, 2026 4 mins read

Trump Rebukes Energy Secretary, Says Gas Prices Could Fall Before Next Year Amid Iran Tensions

Business ı By Tyler Brooks

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WASHINGTON, D.C. — A growing rift inside the Trump administration over U.S. fuel prices burst into public view Monday, as President Donald Trump directly contradicted his Energy Secretary’s prediction that gas prices may not drop below $3 per gallon until next year.

The clash comes as Americans are already facing elevated fuel costs tied to escalating tensions in the Middle East and disruptions in global oil shipping routes.

“Totally wrong” — Trump pushes back on gas price timeline

Speaking to The Hill in a phone interview, Trump dismissed Energy Secretary Chris Wright’s forecast and made clear he believes relief at the pump could come much sooner.

“No, I think he’s wrong on that. Totally wrong,” Trump said in a phone interview when asked about his Energy chief’s comments.

When pressed on when he expects prices to fall, Trump tied the answer directly to the ongoing Iran conflict.

“as soon as this ends,” Trump said, referring to the Iran war.

Energy Secretary warns prices may stay high into next year

Wright offered a far more cautious outlook during a Sunday appearance on CNN, pointing to continued instability in global shipping through the Strait of Hormuz as a key factor keeping prices elevated.

“I don’t know. That could happen later this year. That might not happen until next year,” Wright said.

He added that prices may already be near their peak, but stressed the situation remains highly uncertain.

“But prices have likely peaked and they will start going down,” the secretary added. “Certainly, with a resolution of this conflict, you will see prices go down. Prices across the board on energy prices will go down.”

His comments sharply contrast with projections from Treasury Secretary Scott Bessent, who recently suggested gas prices could fall into the $3 range as early as this summer.

Global oil shock intensifies as Strait of Hormuz tensions escalate

Energy markets have been thrown into turmoil as Iran tightens restrictions on shipping through the Strait of Hormuz, one of the world’s most critical oil transit chokepoints.

In the wake of Russia’s invasion of Ukraine and renewed Middle East instability, U.S. gas prices have surged, recently topping $4 per gallon for the first time since 2022.

According to AAA, the average price of gas in the U.S. stood at $4 on Monday morning.

Oil prices spike after U.S. action near Iranian waters

Markets reacted sharply after reports that the U.S. seized an Iranian vessel near the Strait of Hormuz on Sunday, triggering another spike in crude prices.

Brent crude rose to around $94 per barrel on Monday, while West Texas Intermediate climbed to roughly $88 per barrel.

The volatility underscores how quickly geopolitical flashpoints are translating into higher costs for consumers at the pump.

Diplomatic pressure builds as blockade tensions rise

The U.S. has been enforcing a blockade on Iranian ports, a move that has reportedly complicated diplomatic efforts.

Reuters reported Monday that Pakistan’s army chief Asim Munir told Trump the blockade was a hurdle to negotiations, and that Trump said he would consider Munir’s advice.

However, Trump pushed back on that characterization.

“didn’t recommend anything on the blockade.”

He defended the policy’s impact on Iran’s economy.

“The blockade is very powerful, very strong. They lose $500 million a day with the blockade up,” Trump said, referring to Iran. “We control it. They don’t control it.”

High-stakes diplomacy ahead as U.S. prepares Pakistan talks

Vice President Vance is expected to lead a U.S. delegation to Islamabad for meetings with Pakistani and Iranian negotiators.

However, Iran’s Foreign Ministry said Monday that “no decision” has been made on whether to hold talks with the United States.

With oil markets rattled, diplomatic channels uncertain, and top officials publicly divided, the trajectory of gas prices now appears tightly bound to the outcome of a rapidly escalating geopolitical crisis.

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Tyler Brooks
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Tyler Brooks

Tyler is covering the intersection of law, finance, and public policy. With a keen eye for regulatory shifts and market trends, he brings clarity to complex issues shaping the global economy, and drama whenever possible.

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