Officials say the US is working with international partners to escort oil tankers and restore shipping
Americans may face high gasoline prices for several more weeks, said Energy Secretary Chris Wright on Sunday, as tensions linked to the US conflict with Iran disrupt global energy flows.
Speaking on Meet the Press, Wright also noted, “It is a short-term disruption” that would help eliminate energy supply risks globally.
The national average price for regular gasoline has climbed to about $3.70 per gallon, up from $2.98 a month ago, according to the AAA.
Iran’s leadership has warned that the vital Strait of Hormuz could remain closed. Nearly 20% of the world’s oil supply passes through the waterway.
Officials say the US is working with international partners to escort oil tankers and restore shipping. The administration is also considering easing some shipping rules to help stabilize oil markets and reduce fuel costs.