US energy chief says spike in gas prices will fall ‘before too long’ amid Iran war

US Energy Secretary Chris Wright stated that the recent spike in energy prices due to the conflict involving Iran is expected to be temporary, lasting weeks rather than months. He clarified that the US is not targeting Iran's energy infrastructure, despite Israeli strikes on Iranian fuel depots. The conflict has already caused a significant increase in oil and gasoline prices, with US gasoline prices rising 14% in a week. Wright anticipates prices will fall again, aiming to return below $3 a gallon. Administration officials are framing the short-term price increases as a necessary consequence of addressing the long-term threat posed by Iran's nuclear and missile programs, arguing that eliminating the regime will ultimately benefit global energy stability.

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