Treasury Secretary Scott Bessent said on Fox Business that U.S. energy prices are expected to fall later in 2026 despite recent spikes.
Gasoline prices hit $4.18 per gallon, a four‑year high, rising 7 cents in a day and up $1.19 (≈40%) since late February.
Conflict‑driven shipping constraints in the Strait of Hormuz, handling ~20% of global oil and gas, have pushed energy costs higher.
U.S. oil and gas rigs rose for a second consecutive week, the first back‑to‑back increase since mid‑March, per Baker Hughes data.