Administration officials say market disruptions linked to conflict with Iran may push fuel prices higher in the short term but expect relief as shipping flows stabilize.
By yourNEWS Media Newsroom
Energy Secretary Chris Wright said gasoline prices could begin falling within weeks despite a recent surge tied to escalating tensions involving Iran and disruptions to one of the world’s most critical oil shipping routes.
Speaking in an interview Friday, Wright argued that the spike in fuel costs tied to military operations and threats to energy infrastructure is likely to be temporary.
“Look, Iran’s been an escalator of energy prices [for] 47 years, the whole history of their regime,” Wright said.
“We got a little bit of an interruption right now to finally put an end to their ability to wreak havoc, to kill Americans, and to terrorize their neighbors.”
Energy markets reacted sharply after U.S. and Israeli military actions targeting Iran coincided with Tehran’s efforts to disrupt maritime traffic through the Strait of Hormuz, a strategic passage connecting the Persian Gulf with the Gulf of Oman.
The waterway serves as one of the most important oil chokepoints in the global energy system. Roughly one-fifth of the world’s petroleum liquids supply typically passes through the narrow corridor, making any disruption there a major concern for global markets and fuel prices.
Data from AAA showed the national average cost of a gallon of regular gasoline climbed to $3.32 on Friday, compared with $2.98 a week earlier, as traders priced in the possibility of supply interruptions and tighter global oil availability.
Energy analysts warned that the severity of the price shock will depend largely on how long the disruptions continue and whether tanker traffic can safely move through the Gulf region.
Patrick De Haan, head of petroleum analysis at GasBuddy, said that even brief interruptions in shipping flows can create ripple effects in global markets.
“That means millions of barrels of oil that would normally flow to global markets simply aren’t reaching buyers,” De Haan said.
“Every additional day [of] the disruption continues compounds the problem. Even if the Strait reopened immediately, the market would still face the challenge of catching up on days’ worth of missing shipments — an increasingly difficult task as the backlog grows.”
Energy traders have closely monitored the situation because prolonged disruptions in the Strait of Hormuz could drive oil prices significantly higher. Such increases could feed broader inflation pressures and complicate economic policy after a period during which fuel prices had remained below levels seen through much of 2024 and early 2025.
President Donald Trump addressed those concerns Thursday, dismissing fears that the conflict would cause lasting increases in gasoline prices.
“I don’t have any concern about it,” Trump said.
“They’ll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit.”
Administration officials have maintained that ongoing military and naval operations are intended in part to stabilize shipping routes and reassure energy markets. Investors remain focused on whether tanker traffic can continue safely through the region and how quickly exports resume normal levels.
Wright expressed confidence that the global oil market will adjust more quickly than many drivers expect.
According to the energy secretary, the timeline for price relief is likely measured in weeks rather than months if disruptions remain limited.
For American consumers, however, the near-term outlook remains closely tied to developments in the Middle East. The pace of tanker movements, refinery supply chains, and global export flows will determine how quickly gasoline prices stabilize in the weeks ahead.
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