US Energy Chief Says Gas May Not Dip Below $3 Until Next Year

US gasoline prices may remain at $3 per gallon or more until next year, Energy Secretary Chris Wright said, contradicting Treasury Secretary Scott Bessent’s prediction of relief by summer.

Gas prices “have likely peaked” and are certain to decline once there’s a “resolution” to the US-Israeli war with Iran, Wright said on CNN’s State of the Union.

Asked when prices might drop to less than $3, Wright said, “I don’t know — that could happen later this year, that might not happen until next year.” Republicans are already expected to have a tough election season, and elevated gas ...