Trump's energy boss wavers on gasoline price path
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U.S. Secretary of Energy Chris Wright at the White House on June 22, 2026. Photo by Mandel NGAN / AFP via Getty Images
Energy Secretary Chris Wright on Sunday cautiously predicted gasoline price relief is on the way, but stopped short of firm or precise pledges.
Why it matters: Pump prices are at their highest Labor Day weekend levels on record, and the midterms loom less than two months away.
- His appearances on Sunday political shows also comes as diesel prices, which ripple through the economy, are at all-time highs.
"I think prices headed downward is — is not an unreasonable expectation," he said on CBS's "Face the Nation."
State of play: On that show and others, Wright noted that U.S. gasoline demand typically falls after Labor Day with the end of the traditional summer driving season.
- He also promoted recent administration moves to ease some environmental requirements for summer gasoline blends.
- "Gasoline production is about to go up and demand is about to go down. So, if I had to guess, they're more likely to go down than go up," Wright said on CNN's "State of the Union."
Catch up quick: U.S. regular gasoline prices averaged $4.15 per gallon Sunday, per AAA data.
The intrigue: Wright also pointed to declining prices for gasoline futures contracts in the months ahead.
- "The marketplace thinks gasoline prices are going to move meaningfully lower. So trust the market, certainly don't trust my predictions.," he said on ABC's "This Week," per a transcript.
Yes, but: Futures prices months ahead are volatile, and they're not a crystal ball for what will be happening in retail markets.
- Pump prices have climbed in recent weeks amid a flare-up in hostilities that has driven crude oil prices higher.
- Crude oil is already at its highest level in roughly six weeks, with the global benchmark above $96 per barrel at Friday's close, even though more oil appears to have been transiting the Strait of Hormuz recently.
What we're watching: Oil prices could see another jump when markets open for the week, following fresh conflicts this weekend.
