Trump Disagrees with Energy Secretary on Gas Price Drop Timeline
US President Donald Trump contradicted his top energy official's prediction that gas prices will not drop until 2027, saying Americans can expect lower costs as soon as the Iran war ends. The current average price for a gallon of regular gas is $4.04, up from $3.15 a year ago.
Energy Secretary Chris Wright told CNN on Sunday that gasoline below $3 a gallon could happen later this year, but might not happen until next year. Trump disagreed, stating 'I think he's wrong on that. Totally wrong.'
The fragile ceasefire in the Iran war is set to expire shortly, and it is unclear whether another round of peace talks will succeed. Oil prices rose 5% globally on Monday.