U.S. Transportation Secretary Sean Duffy said on Sunday that gasoline prices should begin to decline “immediately” once shipping resumes through the Strait of Hormuz, pushing back against analyst warnings that relief for consumers could take months.
Duffy, speaking on ABC’s “This Week” program on May 3, acknowledged that prices may take time to return to pre-war levels but said reopening the critical oil transit chokepoint would quickly ease pressure at the pump.
