Energy Secretary Forecasts Falling Gas Prices

Wright says prices should start to slowly decline in coming weeks as Iran conflict ends.

Apr. 20, 2026 at 4:42am

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A geometric abstract illustration featuring overlapping triangles and rectangles in shades of blue, orange, and gray, conceptually representing the volatility of gas prices and the impact of global events on the energy market.As the conflict with Iran nears resolution, the Energy Secretary forecasts a gradual decline in gas prices in the coming weeks.Washington Today

Energy Secretary Chris Wright stated on Sunday that gas prices in the United States have likely reached their peak and should start to slowly decline over the next few weeks as the 47-year conflict with Iran comes to a close. Wright cited the resolution of the war and preventing Iran from obtaining nuclear weapons as key factors in the expected price drop at the pump.

Why it matters

The high cost of gasoline has been a major economic and political issue in the U.S. over the past year, with prices reaching record highs. The Energy Secretary's forecast of falling prices in the near future could provide some relief to American consumers struggling with inflation.

The details

According to Wright, gas prices peaked around a week ago and should start to gradually decrease in the coming weeks as the long-running conflict with Iran is resolved. The end of the war and preventing Iran from acquiring nuclear weapons are cited as the primary reasons behind the expected price drop.

  • Gas prices likely peaked around one week ago.
  • Prices are expected to start slowly declining in the coming weeks.

The players

Chris Wright

The current U.S. Secretary of Energy, appointed in 2025.

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What they’re saying

“Putting this 47-year conflict to an end and preventing Iran from getting nuclear weapons, of course, has come with a cost. But we're starting to see that cost come down at the pump.”

— Chris Wright, U.S. Secretary of Energy

What’s next

The Energy Department will continue to monitor gas prices and provide updates to the public on the expected timeline for prices to return to more affordable levels.

The takeaway

The resolution of the longstanding conflict with Iran is expected to provide some much-needed relief to American consumers dealing with high inflation, as gas prices should start to gradually decline in the coming weeks according to the Energy Secretary.