Washington — Energy Secretary Chris Wright stated on Sunday that President Trump was "well aware of the risks to energy flows" before initiating military action in Iran earlier this year. Wright emphasized that "the world cannot sustain a nuclear-armed Iran," and noted that Trump acknowledged the potential for short-term increases in energy prices, saying, "I'm going to take a hit there, but I got to do the right thing."
In recent months, Americans have experienced rising gas and diesel prices. The Trump administration has cited the threat posed by a nuclear-armed Iran as a long-term concern for energy prices. Wright defended Trump's position, asserting that the president has taken a "strong stand that Iran, the world's greatest terrorist regime, cannot and will not have nuclear weapons."
Wright expressed optimism that energy prices will decrease, attributing this to increased supplies from the Strait of Hormuz, rising U.S. gasoline production, and a seasonal slowdown in summer driving. When asked if prices would decline in the coming weeks, particularly as Republicans prepare for the midterm elections, Wright responded, "absolutely." He noted that diesel prices, which had recently exceeded $6.50 per gallon, have decreased by over 20 cents in recent days, and he anticipates further reductions. "You should see it below $6 before too long," he stated.
Wright explained that efforts are underway to increase diesel and gasoline supplies, reversing previous policies that limited production, refining, and delivery of hydrocarbons. While he did not comment on potential military escalation after the midterm elections, he mentioned that Trump is "always planning for contingencies and he's always negotiating," keeping both diplomatic and military options open.
Wright highlighted the recent agreement among the Group of Seven countries to release 100 million barrels of fuel over four months as a significant development that could help lower diesel prices in the U.S. and globally during the winter. He noted that Europe has substantial diesel reserves but lacks sufficient refining capacity, making American diesel exports critical.
When asked about the possibility of an export ban on diesel, which Wright opposes, he indicated that Trump is continually exploring various options to lower energy prices. "There's different ways to look at it. He's always looking, 'How do I lower energy prices? How do I lower heating prices, electricity prices, gasoline prices, diesel prices?'" Wright added that ongoing communication about energy pricing strategies may have contributed to the recent agreement.