Energy secretary: Iran-related actions will keep gasoline prices higher for 'a few more weeks'

Energy Secretary Chris Wright told an interviewer that recent U.S. actions aimed at Iran are likely to raise gasoline prices temporarily, saying Americans should expect "a few weeks" of higher pump prices as military and economic measures take effect.

"We have gasoline prices today over $4 a gallon," Wright said, adding that those prices remain about "a dollar less than they were in the Biden administration." He linked short-term price increases to efforts to degrade Iran's capacity to threaten regional stability and to cut off oil revenues: "You gotta put the military pressure on Iran to degrade their capacities to menace the region, and now we're gonna put an economic squeeze on them, end their oil revenues from coming out of their country." Wright said the measures are intended to bring the conflict to an end and produce more secure, lower long-term energy supplies.

Host Harris pressed Wright on the "few weeks" forecast and noted stronger-than-expected Producer Price Index figures that could affect consumers' ability to withstand higher energy costs. The host also cited a Wall Street Journal report estimating a U.S. blockade of Iranian ports could cost about $435,000,000 per day and asked whether the economic pressure could produce financial windfalls for others; Wright reiterated that military and economic pressure are complementary tools to end the conflict.

The interview captured statements of intent and projections from the Energy Secretary but did not include supporting analysis, independent price forecasts or policy measures to mitigate near-term consumer impacts. The claims about blockade costs and timelines were made in the course of the interview and were not independently verified on-air.