U.S. Energy Secretary Chris Wright said in a televised interview on September 6, 2026, that gasoline prices are expected to decline. Wright attributed the anticipated drop to the end of the summer driving season following Labor Day and recent regulatory changes by the Trump administration intended to allow domestic refiners to increase production.
The interview occurred as fuel costs fluctuated, with diesel reaching a price of $5.89 per gallon earlier in the week. Wright’s comments followed a mention by Margaret Brennan of a prediction by Secretary Bessent that gas prices could return to three dollars by September 20, depending on the outcome of talks with Iran.
Wright identified global refining capacity as a primary driver of current high prices, noting that Russia has shifted from an exporter to an importer of gasoline due to refinery damage. To address supply, he highlighted a 50% growth in oil exports from Venezuela over the last eight months and efforts to increase production in Alaska and the Gulf of Mexico.
Wright noted that U.S. involvement in Venezuela resulted in a 50% increase in that country's oil exports over eight months at "zero cost" to U.S. taxpayers, though the deal involves the U.S. gaining ownership interests in production and discounted oil. For an average household, these shifts in global supply and domestic refining regulations are intended to lower the per-gallon cost at the pump.
The U.S. government remains in dialogue with Canadian energy partners and is pursuing increased extraction in Alaska and the Gulf. While Wright expressed openness to a negotiated settlement with Iran, he stated the U.S. military is currently working to stop Iranian crude and natural gas exports. A specific timeline for Venezuelan elections remains unconfirmed, though Wright stated that opposition leaders have returned to the country to discuss election conditions.