Chris Wright says ‘I don’t know’ when asked about lower cost of gas as average price soars to $4 a gallon in US
Chris Wright, the Trump administration’s energy secretary, acknowledged Sunday that it might not be until 2027 before US gas prices come back under $3 a gallon.
Asked by Jake Tapper, the CNN State of the Union host, when he thought “it’s realistic for Americans to expect the gas will go back to under $3 a gallon”, Wright replied: “I don’t know. That could happen later this year. That might not happen until next year.”
There’s been so much inflation that $3/gallon would be really cheap, even for gasoline in the US, by the standards of the last 20 years or so. A very arbitrary number to get stuck on.
US Average Gasoline Price Adjusted for Inflation
$4/gallon just isn’t that high, not much out of line with the last ~15 years.
I think higher fuel prices could be the impetus for quite a lot of alternative energy, alternative transport, and electrification investment. I think if you believe that free markets work, you’d really have to agree.
They try to keep gas tacked to minimum wage in the US on purpose
If the poors can’t drive to work the machine grinds to a halt.