Energy secretary on gas prices: ‘Americans will feel it for a few more weeks’

Energy Secretary Chris Wright said Sunday that Americans can expect to experience high prices at the gas pump “for a few more weeks,” amid the U.S. conflict in Iran.

“Yes, it is a short term disruption in the flow of energy. Americans are feeling it right now. Americans will feel it for a few more weeks, but at the end, we will have removed the greatest risk to global energy supplies,” Wright told NBC News’s Kristen Welker on “Meet the Press.”

“We’ll go to a world more abundant in energy, more affordable in energy and less risky for American soldiers and commerce in the Middle East,” he added.

The price of regular gas is currently at a national average of around $3.70 per gallon, up from around $2.98 a month ago, according to AAA.

Iran’s new supreme leader, Mojaba Khamenei, on Thursday asserted that the Strait of Hormuz, where close to a fifth of the world’s oil supply travels through, would remain closed.

The Islamic Revolutionary Guard Corps has said it won’t let “even a single liter of oil” go through the strait until strikes from the U.S. and Israel stop.

The administration is also considering loosening shipping rules in an effort to coax oil prices to drop.

On Sunday, United Nations Ambassador Mike Waltz said that the U.S. is also pushing for international allies to assist in escorting ships through the Strait of Hormuz, amid the push to restart the oil trade in the region.

“President Trump is calling upon the world, saying the entire world is affected,” Waltz told CNN’s Jake Tapper on “State of the Union.” “Iran can’t hold your economies hostage, and we certainly welcome, encourage and even demand their participation to help their own economies.”

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