economy
Chris Wright clarifies prediction that gas prices peaked as Iran war rages on
EXCLUSIVE — Energy Secretary Chris Wright is staying away from predicting when gasoline prices will fall as the Strait of Hormuz remains closed, walking back his previous thought that the United States had seen peak prices at the pump.
TL;DR
- Energy Secretary Chris Wright walked back his previous prediction that U.S. gasoline prices had peaked.
- Wright had told lawmakers in late April that gas prices appeared to have peaked about a week prior, with the national average at $4.02 a gallon.
- As of Friday, the national average has risen to over $4.52 a gallon.
- Wright clarified that his earlier remark was based on the belief that a resolution to the war in Iran was imminent.
- He is now avoiding predictions as the Strait of Hormuz remains closed and the situation with Iran is ongoing.