Gas Prices Could Return to $3 by September: Treasury Secretary

Treasury Secretary Scott Bessent says gasoline prices could ease back toward $3 a gallon by September following a sharp increase triggered by the war in Iran. The conflict—now nearing its eighth week—has driven a rapid surge in fuel costs. The national average was about $2.90 per gallon before the fighting began. As of April 15, prices have climbed above $4, according to the American Automobile Association. Bessent believes that prices at the pump will steadily decline once Middle East tensions cool and the Strait of Hormuz—the vital chokepoint for a fifth of the world’s oil supply—is fully reopened. “I’m optimistic that during the summer, we will see gas with a three in front of us sooner rather than later,” he told reporters at an April 15 press briefing....