"Secretary Bessent stated, 'I think that's going to be up to how the negotiations go. President Trump said this morning that he thinks we're nearing the end. The U.S. kept their side on the ceasefire. We've stopped firing. The Straits of Hormuz have not been completely reopened. So we will see.'"
"'Again, I'm optimistic that sometime between June 20th and September 20th, that we can have $3 gas again,' Bessent added, emphasizing the importance of the Straits of Hormuz reopening for oil production."
Peter Doocy questioned Treasury Secretary Scott Bessent about the timeline for $3-a-gallon gas. Bessent indicated that achieving this price by summer is aggressive. He expressed optimism for a price drop between June 20th and September 20th, depending on negotiations and the reopening of the Straits of Hormuz. Bessent noted that Middle Eastern finance ministers believe they can increase oil production quickly once the Straits are open. He also mentioned monitoring gas station prices closely as they tend to rise quickly with crude oil price increases.
Read at www.mediaite.com
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