Energy & Environment

The Big Story

Treasury Sec. eyes $3 gas

Treasury Secretary Scott Bessent told reporters at the White House press briefing on Wednesday that Americans could start seeing $3 gas prices “sooner rather than later” depending on how negotiations to open Iran’s Strait of Hormuz end up playing out.

“It’s bank week here in DC, so I’ve been meeting with a lot of my Middle Eastern counterparts, the finance ministers, and they all say when the straits are open they can start pumping again within one week,” Bessent said.

“I’m optimistic that sometime between June 20 and September 20 that we can have $3 gas again,” he said.

According to AAA’s national gas prices average, gas prices sat at an average of $4.11 on Wednesday.

The comments appear to be more optimistic than those recently made by the president himself.

Asked over the weekend if prices would fall by the midterms, Trump said: “I mean, I think so. It could be, it could be, or the same, or maybe a little bit higher, but it should be around the same.”

Read more here, from The Hill's Julia Manchester.

Welcome to The Hill’s Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.

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