dailyloe.com – Energy Secretary Chris Wright spoke on NBC News’ “Meet the Press” regarding rising gas prices on May 10, 2026. He stated that the Trump administration is open to suggestions for reducing costs, including suspending the federal gas tax.
As gas prices hit a national average of $4.52 per gallon, reflecting a 50% increase since the onset of the Iran war, Wright emphasized, “all measures that can be taken to lower the price at the pump and lower the prices for Americans, this administration is in support of.”
Wright confirmed that President Donald Trump is open to the idea of suspending the federal gas tax of about 18 cents per gallon. He remarked, “We’re open to all ideas,” while acknowledging that “everything has trade-offs.”
In March, Democrats introduced a bill to temporarily suspend the federal gas tax until October. When asked about the potential for gas prices to reach $5 per gallon, Wright declined to make predictions.
He stated, “I can’t predict the price of energy in the short term or even the medium term,” and referenced the ongoing conflict with Iran. Wright indicated that the U.S. is in a strong position regarding oil and natural gas production.
Previously, Wright mentioned a “very good chance” that gas prices could drop below $3 per gallon by summer. However, eight weeks later, prices continue to rise due to Iran’s blockade of the Strait of Hormuz.
Experts suggest that while U.S. actions may limit Iran’s oil revenue, the country could likely endure this pressure for an extended period. Wright’s comments reflect the administration’s ongoing evaluation of measures to address the issue.
