President Donald Trump’s team is no longer making predictions about energy prices.
That much was clear Wednesday when administration officials facing lawmakers declined to put a timetable when the war in Iran would end and the ensuing rise in energy prices would ease, instead offering vague assurances of their track record in lowering prices.
“I think the conflict will end, and I think gasoline prices will come back to where they were, or perhaps lower,” Treasury Secretary Scott Bessent told Senate appropriators.
Bessent declined to say Wednesday when the price of gasoline — now averaging above $4 per gallon, more than a dollar higher than when the war started — will come down. Instead, he told Senate appropriators that it depended on the length of the war.
