economy

March 15, 2026

Chris Wright admits Americans will feel high oil prices for 'a few more weeks'

Energy Secretary Chris Wright said high gas prices will continue for “a few more weeks” due to the war in Iran and the Iranian regimes choke on the Strait of Hormuz.

Chris Wright admits Americans will feel high oil prices for 'a few more weeks'

TL;DR

  • High gas prices are expected to continue for "a few more weeks" due to the war in Iran.
  • Energy Secretary Chris Wright believes the conflict is a short-term disruption.
  • Prices could drop below $3 per gallon by summertime, but "there's no guarantees in war."
  • The U.S. released 172 million barrels of oil from the Strategic Petroleum Reserve to stabilize markets.
  • Iran has threatened to choke oil flow through the Strait of Hormuz, potentially raising prices to $200 per barrel, though Wright dismisses this as bluffing.

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