Gas Prices Will Return to Low Levels After Iran Conflict Ends, Bessent Says

Treasury Secretary Scott Bessent said on Wednesday that relatively high gas prices will not last long but that any change is contingent on when the United States and Iran cease hostilities. “I think the conflict will end, I think gasoline prices will come back to where they were or perhaps lower,” Bessent told the Senate Appropriations Committee on April 22. President Donald Trump, he added, “has shown that he is good at getting energy prices down and that our energy dominance agenda has lowered prices.” The price for Brent crude oil, the international standard, increased to $100 on Tuesday and hovered around that price on Wednesday. Meanwhile, West Texas International crude stood at around $92 per barrel....