US Energy Secretary: Gas Prices Will Fall Only If Iran Crisis Is Resolved

U.S. Energy Secretary Chris Wright has said that a meaningful reduction in gasoline prices for Americans will ultimately depend on resolving tensions with Iran, as ongoing geopolitical instability continues to disrupt global oil supply chains.

Wright made the remarks while discussing rising fuel costs in the United States, linking elevated prices to uncertainty in the Middle East and disruptions affecting oil transit routes such as the Strait of Hormuz.

According to reports, the Energy Secretary argued that stabilizing relations with Iran would help restore consistent global oil flows, which in turn could ease pressure on fuel markets and gradually bring down pump prices.

He noted that while domestic energy production and strategic reserves are helping to cushion shocks, broader international stability; particularly involving Iran, remains key to sustained price relief for consumers.

Wright also suggested that fuel prices are expected to ease over time, but emphasized that the timeline depends heavily on diplomatic outcomes and the end of the current conflict dynamics in the region.

The comments come amid continued volatility in global oil markets, where prices have fluctuated due to security concerns in the Middle East and concerns over supply disruptions.

Energy analysts say geopolitical risk premiums remain a major driver of higher fuel costs worldwide.