U.S. Energy Sec says gas prices have likely peaked, but won’t go below $3 until 2027. Trump says he’s ‘totally wrong’ about the timeline

After U.S. gas prices soared to over $4 a gallon this month, Americans are cautiously exhaling a long-held breath that they’ve been holding for weeks since the Iran war began. But Energy Secretary Chris Wright says it may be quite some time before Americans see any price reduction at the gas pump. “That could happen later this year. That might not happen until next week, but prices have likely peaked,” Wright said on CNN’s “State of the Union” on Sunday. “Certainly, with a resolution of this conflict, you will see prices go down. Prices across the board on energy prices will go down.” President Donald Trump, however, disagrees with Wright’s timeline. “No, I think he’s wrong on that,” President Trump told The Hill on Monday. “Totally wrong.” He said gas prices will drop “as soon as this ends,” referring to the war, now entering its seventh week. Traffic through the Strait of Hormuz, where usually 20% of the world’s oil and liquified natural gas supplies would pass through, has virtually come to a standstill since the war began. Trump’s comments on Monday seem to completely contradict his previous claims just over a week ago, in which he warned gas prices could stay the same or even increase by the midterm elections come November. Wright says the war’s end is in sight Since the war began, average gas prices have increased by more than $1 per gallon. They reached a peak average of $4.17 per gallon on April 9, the highest since the war began on Feb. 28 when Israeli and U.S. launched coordinated attacks on Iran. On Monday, when Trump made those comments, the average price for a gallon of regular gas was $4.04, compared to $3.15 a year ago, according to ⁠AAA . About half of American adults say that gas prices are a “financial hardship” or “difficult,” according to a recent CBS News /YouGov Poll released on April 12 that surveyed 2,387 adults across the country. Although Wright said either this or next week would be “a reasonable timeframe” for the war to end, it would re…