Here’s what you need to know.
Americans could feel additional pressure at the gas pump in the coming weeks as tensions in the Middle East continue to shake global energy markets.
Energy Secretary Chris Wright said Sunday that rising gas prices are likely to be temporary, but he acknowledged that drivers across the country may continue to feel the impact for a short period as the Trump administration works to stabilize global oil supplies following the conflict with Iran.
Speaking on NBC’s Meet the Press, Wright explained that disruptions to the global energy supply chain are responsible for the recent increase in gasoline prices.
“This is a short-term disruption in the flow of energy,” Wright said. “Americans are feeling it right now, and they may feel it for a few more weeks. But in the end, we will have removed one of the greatest risks to global energy supplies.”
Gas Prices Climb As Global Oil Markets React
According to the American Automobile Association (AAA), the national average price for gasoline currently stands at $3.69 per gallon.
Just weeks ago, the national average had been below $3 per gallon, before tensions with Iran escalated and global oil markets reacted to the uncertainty.
Energy analysts say geopolitical conflicts can quickly impact oil prices because traders anticipate supply disruptions — especially when the Middle East is involved.
Despite the increase, Wright emphasized that gas prices today are still significantly lower than the peaks seen during the Biden administration.
At one point during that period, gasoline prices in some parts of the country surged toward $5 per gallon, putting enormous pressure on American families.
Trump Administration Predicts Prices Could Fall Below $3
The Trump administration believes that energy prices could begin to fall again once the situation stabilizes.
Wright said there is a “very good chance” Americans could see gas prices drop below $3 per gallon by the summer.
“There are no guarantees during wartime,” Wright explained. “The timeline isn’t perfectly clear yet. But bringing prices down is certainly a goal of this administration, and it is very possible once energy supplies stabilize.”
Officials say restoring stability to global oil routes remains one of the administration’s top priorities.
Strike On Iranian Oil Hub Sends Shockwaves Through Energy Markets
Oil prices surged after President Donald Trump authorized a large-scale military strike on Kharg Island, a critical Iranian oil export terminal.
Kharg Island plays a major role in Iran’s economy, with roughly 90 percent of the country’s crude oil exports flowing through the facility.
Following the strike, oil futures climbed toward $100 per barrel, reflecting concerns about potential supply disruptions.
Still, Wright predicted the conflict may not drag on for long.
“This conflict could come to an end in the next few weeks,” he said during an appearance on ABC’s This Week. “When supplies rebound, we should see oil prices begin to move downward again.”
Iran Threatens Oil Prices Could Reach $200
Iranian officials have warned that oil prices could soar as high as $200 per barrel if tensions escalate further.
Much of that risk centers on the Strait of Hormuz, a narrow but vital shipping lane connecting the Persian Gulf to global markets.
Roughly one-fifth of the world’s seaborne oil supply passes through the Strait of Hormuz each year.
If Iran were able to block or disrupt traffic through the strait, global energy markets could face significant instability.
However, Wright dismissed Iran’s warnings.
“I would pay no attention to what Iran says,” he said.
Still, he acknowledged that the waterway remains a critical factor in global oil prices.
“A tremendous amount of energy moves through the Strait of Hormuz,” Wright said. “Until this conflict ends and shipping fully stabilizes, we could see some elevated prices.”
U.S. And Allies Release Massive Oil Supplies
To prevent a major global energy shock, the United States and its allies are releasing significant emergency oil reserves.
The International Energy Agency (IEA) announced that its member countries will release approximately 400 million barrels of oil into global markets.
At the same time, the Trump administration plans to release 172 million barrels from America’s Strategic Petroleum Reserve.
If fully implemented, that move would reduce the U.S. emergency stockpile to its lowest level since 1982.
Administration officials say the goal is simple: stabilize global supply and prevent gas prices from spiraling out of control.
Strait Of Hormuz Remains A Key Military Objective
Despite the energy releases, the Strait of Hormuz remains unstable, and shipping disruptions are still occurring.
According to Wright, Iran has been actively interfering with the flow of oil through the narrow waterway since the conflict began.
“That is one of the major objectives at the end of this conflict — reopening the Strait of Hormuz,” Wright said.
U.S. military operations initially focused on weakening Iran’s ability to launch attacks beyond its borders. Now, officials say protecting global shipping routes will become an increasing priority.
“That will be an expanding focus of our military moving forward,” Wright explained.
Allied Warships Expected To Protect Global Oil Routes
President Trump announced Saturday that allied nations are preparing to help secure the Strait of Hormuz.
Countries heavily dependent on Middle Eastern oil shipments are expected to send naval forces to the region alongside the United States.
The goal is to ensure that oil tankers can continue passing through the waterway safely.
Administration officials say they anticipated Iran might attempt to disrupt shipping if the U.S. took military action against the regime.
For now, Americans may continue to see higher gas prices in the short term. But officials believe stabilizing global energy routes could eventually push prices lower again.
