Energy Sec: Fuel prices may fall amid global risks

U.S. Energy Secretary Chris Wright offered a cautious outlook on fuel prices, suggesting relief may be on the horizon while acknowledging ongoing global pressures. Speaking over the Labor Day weekend, Wright indicated that falling seasonal demand and increased refinery output could lead to lower gasoline prices in the coming weeks. During interviews on Sunday, September 6, 2026, Wright initially demurred when asked directly about future gas prices, stating he did not want to offer an opinion. However, he later conceded that gasoline futures contracts suggest prices could fall by more than 30 cents a gallon from current levels. He pointed to the end of the summer driving season and regulatory changes allowing American refiners to produce more gasoline and diesel with existing equipment as factors contributing to potential price decreases. Despite these domestic factors, global events continue to influence oil markets. The conflict involving Iran and disruptions around the Strait of Hormuz remain a significant concern. U.S. Navy escorts are reportedly still necessary for merchant vessels transiting the vital energy chokepoint, with traffic levels fluctuating. U.S.