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CommoditiesUpdated×3•Originally published 20 April 2026•Updated 22 April 2026•

1 min read

Trump Rejects Energy Secretary's Forecast of High Gas Prices Through 2027

World map with red downward trends, financial charts on screens, a risk meter, and a pile of gold bars and coins.

Key Facts

1Energy Secretary Chris Wright stated that gas prices may not drop below $3 per gallon until 2027.

2President Trump publicly rejected Secretary Wright's assessment, stating 'Wright is wrong'.

3The EIA estimates the retail price for an average gallon of gasoline will be $3.46 in 2027.

about 1 month ago

Version History

Version 3about 1 month ago

What changed: Added information regarding Trump considering a two-month Jones Act waiver extension as a regulatory measure to lower fuel prices.

Version 2about 1 month ago

What changed: Added the Energy Secretary's specific timeline for the potential end of the war (two weeks) and the expected lag time for price reductions (months).

Version 1about 1 month ago

What changed: The story was updated to include Trump's specific condition for the price drop, which is the conclusion of the conflict with Iran.

President Donald Trump has publicly challenged Energy Secretary Chris Wright’s forecast that gasoline prices will remain above $3 per gallon through 2027, insisting on an immediate drop following the Iran conflict. To accelerate this decline, Trump is now considering a two-month extension of the Jones Act waiver to streamline fuel transportation and mitigate price spikes caused by regional tensions. This potential regulatory move aims to address the supply chain bottlenecks that Secretary Wright warned could delay price relief for several months after the war ends. While the EIA currently projects an average price of $3.46 for 2027, the administration is pivoting toward active policy interventions to force a faster correction. Analysts are closely watching whether this waiver extension can bridge the gap between geopolitical resolutions and retail price stabilization.