00:00U.S. gasoline prices could remain above $3 a gallon until 2027.
00:05That's according to U.S. Energy Secretary Chris Wright.
00:08On Sunday, Wright told CNN he believed gas prices had peaked,
00:12but may not fall below the $3 level until next year.
00:15Gas prices have risen since the U.S. and Israel attacked Iran,
00:19and Iran retaliated against nearby countries.
00:22The rising energy costs added to political headwinds for President Donald Trump
00:25ahead of the November midterm elections.
00:27Trump's Republican Party will defend slim majorities in the Senate and House of Representatives.
00:31This is an administration that decided on a war of choice in Iran and driving up these costs.
00:39I don't know if anybody thought about the consequences.
00:41At a hearing last week, Democratic lawmakers excoriated Wright
00:44and the Trump administration for rising gas prices.
00:47This president and cabinet made calculated choices to inflict this high-cost chaos on Americans.
00:53So when are we really going to get $3 a gallon gas?
00:56Well, I think that's going to be up to how the negotiations go.
01:03Trump administration officials have offered differing views on how gas prices may shift.
01:07Treasury Secretary Scott Bessent last week predicted gas prices would fall to the $3 per gallon range this summer.
01:13So we will see, and I'm optimistic that during the summer we will see gas with a $3 in front
01:20of it sooner rather than later.
01:22Trump himself has said that gas prices may remain elevated until November.
01:25The average price for a gallon of regular gas on Sunday was $4.05, according to an estimate by the
01:30AAA,
01:31compared to $3.16 a year ago.
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