US energy secretary says lower gas prices will ultimately take resolution with Iran

US Energy Secretary Chris Wright stated that a resolution with Iran is essential to lowering gasoline and diesel prices by increasing oil flow through the Strait of Hormuz. Wright made these remarks during an appearance at the Sable Offshore oil and gas facility in California.

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The pathway to bring gasoline and diesel prices back down is to get more oil flowing through the Strait of Hormuz.

Wright and Interior Secretary Doug Burgum criticized California's stringent environmental policies, which they claim contribute to the state's high gasoline prices, currently around $6 per gallon. The administration is considering further steps to address gas prices in California and has engaged with Governor Gavin Newsom regarding support for the state's oil refineries, especially after two recent closures.

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Ultimately that's going to be a resolution with Iran.

"The best course is to roll back some of the regulations that have forced the last two to close," Wright said, questioning the rationale behind policies that he believes harm Californians without providing environmental or economic benefits. Newsom's office had not immediately responded to a request for comment.

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We're paying extra, but we're solving a major geopolitical challenge, a major threat to national security, a major threat to that whole region of the world.

Regarding the broader issue of soaring gas prices nationwide, Wright reiterated that a deal with Iran is the key. "The pathway to bring gasoline and diesel prices back down is to get more oil flowing through the Strait of Hormuz," he explained. He added that the current higher prices are a justifiable cost for the significant geopolitical effort to neutralize Iran as a nuclear threat and a major national security concern for the region.

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The best course is to roll back some of the regulations that have forced the last two to close.