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Auburn Hills Today
By the People, for the People
Vance to Meet with Oil Trade Group, Acknowledges 'Rough Road Ahead' on Gas Prices
Administration looks to ease rising gas prices amid Iran war and global volatility.
Mar. 18, 2026 at 9:35pm
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U.S. Vice President JD Vance and Energy Secretary Chris Wright will meet with the American Petroleum Institute, the nation's largest oil trade group, as the Trump administration seeks to address rising gas prices. Vance acknowledged there is a 'rough road ahead' for the next few weeks, but said the administration will announce measures in the next 48 hours to ease the burden on consumers.
Why it matters
Higher gas prices could hurt Republicans in the upcoming midterm elections, so the administration is looking to take action to bring down costs for Americans at the pump. The meeting with the oil industry group is part of these efforts to address the issue.
The details
Oil prices have surged higher after Iran's major gas field, Pars, was hit in the first reported strikes on Iran's Gulf energy infrastructure amid the ongoing Iran war. Markets have also been rattled by threats to shipping near the Strait of Hormuz, a key oil shipping lane near Iran. Tehran has vowed to retaliate throughout the Gulf, which could potentially cause prices to go even higher.
- On March 18, 2026, Vance and Wright will meet with the American Petroleum Institute.
- Vance told reporters on March 17, 2026 that the administration will announce measures in the next 24 to 48 hours to address gas prices.
The players
JD Vance
The current U.S. Vice President.
Chris Wright
The current U.S. Energy Secretary.
American Petroleum Institute
The nation's largest oil trade group.
What they’re saying
“We know they're up, and we know that people are hurting because of it, and we're doing everything that we can to ensure that they stay lower.”
— JD Vance, U.S. Vice President
What’s next
The administration is expected to announce measures in the next 24 to 48 hours to address the rising gas prices.
The takeaway
The meeting between the administration and the oil industry group highlights the political pressure the White House is facing over high gas prices, which could impact the upcoming midterm elections. The administration is scrambling to find ways to ease the burden on consumers, even as global events continue to drive up oil and gas prices.
