"Energy Secretary Chris Wright stated, 'I don't know. That could happen later this year. That might not happen till next year. But prices have likely peaked and they'll start going down.' He emphasized that a resolution to the conflict would lead to lower gas prices."
"'Under $3 a gallon is pretty tremendous in inflation-adjusted terms. We'll get back there for sure,' Wright asserted, indicating a belief in eventual price reductions despite current uncertainties."
"'There's a very good chance that'll be true. You know, there's no guarantees in war. The timeframe's still not entirely clear,' Wright remarked, reflecting on the unpredictability of gas prices amid ongoing conflict."
Gas prices in the U.S. have risen above $4 a gallon, influenced by the prolonged conflict in Iran. Energy Secretary Chris Wright indicated that while prices may have peaked, a return to under $3 a gallon is uncertain and could take years. He noted that a resolution to the conflict would likely lead to lower prices. Wright's previous confidence in a quicker price drop has shifted, reflecting the unpredictable nature of the situation and its impact on consumers.
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