U.S. Gas Prices Stuck Above $3 Per Gallon Until 2027, Energy Secretary Warns

U.S. Energy Secretary Chris Wright said Sunday that gas prices have likely peaked but may not fall below $3 per gallon until next year. The average gallon of regular gas stood at $4.05 on Sunday, up from $3.16 a year ago, according to AAA. Prices have surged amid the U.S.-Israeli war on Iran, creating political pressure on President Donald Trump ahead of November midterm elections. Treasury Secretary Scott Bessent had earlier predicted prices would fall to the $3 range this summer, while Trump said they may stay elevated through November. Officials agree prices will drop once the Iran conflict ends. Wright said, "Under $3 a gallon is pretty tremendous in inflation-adjusted terms, we'll get back there for sure. " Airlines have also flagged a potential jet fuel shortage tied to the war's impact on oil supply.