Energy Secretary Chris Wright says Trump was "well aware of the risks to energy flows" before launching Iran war
October 4, 2026 / 1:47 PM EDT / CBS News
TL;DR
- President Trump was aware of the risks to energy flows before launching the war in Iran.
- The administration prioritized preventing a nuclear-armed Iran over short-term energy price increases.
- Energy Secretary Chris Wright expects energy prices, including diesel and gasoline, to decline in the coming weeks.
- Factors contributing to expected price drops include increased supplies from the Strait of Hormuz, U.S. gasoline production, and the end of the summer driving season.
- The G7 agreement to release 100 million barrels of fuel over four months is expected to help lower diesel prices globally.
- Efforts are underway to increase the supply of diesel and gasoline, reversing previous policies that limited hydrocarbon production.
- Diplomatic and military tracks remain open in the administration's approach to Iran.
- Discussions are ongoing regarding various measures, including potentially an export ban on diesel, to lower energy prices.