President Donald Trump has publicly rebuked his own Energy Secretary, Chris Wright, for issuing a dire warning about prolonged high gas prices, branding his assessment "totally wrong" during a Monday morning phone interview with The Hill. The confrontation comes as Iranian forces announced the continued closure of the vital Strait of Hormuz, sending oil prices climbing again and complicating U.S.-led peace efforts.
Trump's Dismissal of Energy Secretary's Forecast
In an early-morning interview on Monday, Trump responded sharply to comments made by Energy Secretary Chris Wright on CNN's State of the Union the previous day. Wright had stated that he was uncertain when higher gas prices would decline and suggested that price hikes could potentially persist into 2027, attributing this to a supply shock in the oil market that experts say may take months to stabilise.
Contradicting his cabinet official, Trump insisted that gas prices would plummet "as soon as this ends," referring to a prospective peace agreement to end the war in Iran. He dismissed Wright's prediction, asserting, "No, I think he's wrong on that. Totally wrong." This public disagreement highlights the administration's ongoing struggle to manage economic concerns amid foreign policy challenges.
Strait of Hormuz Closure Fuels Oil Price Volatility
The political spat unfolds against a backdrop of renewed tension in the Middle East. On Sunday, Iranian forces declared that the Strait of Hormuz would remain closed as long as the U.S. naval blockade of Iranian ports persists. This critical passageway, essential for global oil shipping, has been effectively shut to tankers not flagged to Iran or its allies since the conflict began, with mines and small vessels harassing attempts to navigate the narrow strait.
The closure has triggered a significant supply shock in the global oil economy, initially pushing prices above $100 per barrel before a slight retreat last week. However, Monday saw oil prices jump again following Iran's announcement. A statement from Iran's Revolutionary Guard forces, posted via the government's embassy in Hyderabad, India, emphasised that the strait would stay closed until the U.S. blockade is lifted.
Peace Talks Stall Amid Rising Tensions
Trump's comments come less than 24 hours before the U.S. and Iran are set to reach the end of a two-week ceasefire, brokered by administration officials amid what appears to be an effective stalemate. News reports on Monday indicated that a top Pakistani official had suggested lifting the blockade to spur peace talks, but Trump denied this during his interview with The Hill.
An American delegation led by Vice President JD Vance, along with deputies Steve Witkoff and Jared Kushner, is due to arrive in Pakistan on Monday for the latest round of negotiations. However, Iran's government has signalled it will not participate, raising fears that a return to open hostilities could further drive up oil prices as hopes for safe passage through the strait diminish.
Administration's Stance on Economic Pain
Trump's assertion about oil prices aligns with a consistent line from the administration since the conflict's inception. White House officials have maintained that gas pump price hikes are only short-term and have argued that Americans will accept temporary economic pain to achieve foreign policy objectives. Yet, an NBC poll published on Sunday revealed that a wide majority of Americans feel higher gas prices are severely impacting their financial livelihoods.
The White House has also pointed to historical context, noting that gas prices reached a high of $4 per gallon as recently as 2022 during the Biden administration, due to a post-Covid demand surge. This comparison aims to downplay current concerns, but with the Strait of Hormuz crisis ongoing, the administration faces mounting pressure to resolve both the geopolitical standoff and its domestic economic repercussions.
