Energy Secretary Chris Wright said Sunday that Americans will likely have to deal with a few more weeks of high gas prices due to the U.S.-Israel war against Iran.
“It’s a short-term disruption to the flow of energy. Americans are feeling it right now. Americans will feel it for a few more weeks,” Mr. Wright said on NBC’s “Meet the Press.” “But at the end, we will have removed the greatest risk to global energy supplies. We’ll go to a world more abundant in energy, more affordable in energy, and less risky for American soldiers and commerce in the Middle East.”
Americans have been feeling pain at the pump because the Strait of Hormuz, the world’s most critical oil chokepoint, remains largely closed to shipping. According to the AAA auto club, regular gasoline has jumped to an average of $3.699 per gallon from $2.927 per gallon a month ago.
Asked if he is confident gas prices will dip below $3 a gallon by summer, Mr. Wright said, “There’s a very good chance that’ll be true.”
“There’s no guarantees in war,” he said. “The timeframe’s still not entirely clear. But I think that’s certainly a goal of the administration and very possible.”
Rep. Michael McCaul, a member of the House Foreign Affairs Committee, echoed that sentiment Sunday, stressing that the conflict will mean short-term pain but promises a generational shift in American energy dominance and Middle East stability.
Mr. McCaul, Texas Republican, said the military mission is ahead of schedule and has demoralized Iran’s navy and air force. Combined with a strike on Kharg Island near Iran and the capture of Venezuelan President Nicolas Maduro, the U.S. is poised for lasting energy gains, he said.
“Long term, we’re going to have more control over energy in this world than we did before the invasion of Iran,” Mr. McCaul said.
“[The] short-term pain for long-term gain is quite extraordinary,” he added. “They’re going to look back at this historic moment that freed up the Middle East and put it on a path to peace and normalization.”
