Gas Prices Will Return to Low Levels After Iran Conflict Ends, Bessent Says

The prices could be ‘perhaps lower’ than when the war with Iran began, the Treasury secretary says.

Treasury Secretary Scott Bessent speaks to reporters in the Brady Briefing Room at the White House, on April 15, 2026. Brendan Smialowski/AFP via Getty Images

Treasury Secretary Scott Bessent said on Wednesday that relatively high gas prices will not last long but that any change is contingent on when the United States and Iran cease hostilities.

“I think the conflict will end, I think gasoline prices will come back to where they were or perhaps lower,” Bessent told the Senate Appropriations Committee on April 22.