U.S. Energy Secretary Chris Wright said on Sunday that he believes U.S. gasoline prices have peaked. But added they could remain above $3 a gallon until 2027.
That view is not shared uniformly across the administration. Treasury Secretary Scott Bessent said last week that gasoline could return to the $3 range this summer, while President Donald Trump has suggested elevated prices could persist until November.
According to AAA, the national average for a gallon of regular petrol stood at about $4.05 on April 19, 2026, up from $3.16 a year earlier.
California’s gasoline inventories have fallen to record lows, and motorists there were paying an average of $5.86 a gallon, the highest in the U.S.
California is especially vulnerable to price shocks because it is isolated from the nation’s fuel pipeline network, forcing it to rely in part on imports from Asia, where refiners process Middle Eastern crude into gasoline.
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