US Energy Sec. Uncertain on Gas Prices, Open to Tax Suspension

U.S. Energy Secretary Chris Wright expressed uncertainty about future gasoline prices on Sunday, stating he could not predict where they might go amid a surge tied to the ongoing conflict with Iran, while indicating the Trump administration is open to suspending the federal gasoline tax for consumer relief.

Wright made the comments during appearances on NBC's "Meet the Press" and CBS's "Face the Nation." The national average price for regular gasoline stood at $4.52 per gallon on Sunday, according to AAA data, up from about $3 at the start of the war in late February. Diesel averaged $5.65 per gallon. Prices have risen more than 40 cents since early April and $1.40 from a year ago, driven by disruptions in the Strait of Hormuz, a chokepoint for roughly one-fifth of global oil shipments.

Ship traffic through the strait has plummeted from over 100 vessels daily before the conflict to just a handful this week. U.S. officials have imposed a blockade on Iranian ports, while Iran has restricted tanker movements and harassed other vessels in the Gulf. Negotiations continue, with Iran responding via intermediaries to a U.S. proposal for a provisional agreement to pause hostilities,...