Energy Secretary Chris Wright said Friday that gasoline prices could start falling within weeks even after a sharp run-up tied to the intensifying conflict with Iran, arguing the disruption to oil markets will not be permanent.

"Look, Iran's been an escalator of energy prices [for] 47 years, the whole history of their regime," Wright said in an interview.

"We got a little bit of an interruption right now to finally put an end to their ability to wreak havoc, to kill Americans, and to terrorize their neighbors."

Wright's remarks came as energy traders and drivers reacted to a sudden jump in crude oil and gasoline prices after U.S. and Israeli military operations against Iran and Tehran's moves to disrupt traffic through the Strait of Hormuz.

The waterway is one of the world's most important oil choke points.

The strait, which connects the Persian Gulf to the Gulf of Oman, normally handles about 20% of global petroleum liquids consumption.

Any threat to shipping there a major concern for world markets and for U.S. consumers watching fuel prices.

AAA said the national average price of a gallon of regular gasoline stood at $3.32 on Friday, up from $2.98 a week earlier, as crude prices climbed and traders weighed the risk of a prolonged supply shock.

Patrick De Haan, GasBuddy's head of petroleum analysis, warned that the damage from a sustained disruption could grow with each passing day.

"That means millions of barrels of oil that would normally flow to global markets simply aren't reaching buyers," De Haan said.

"Every additional day [of] the disruption continues compounds the problem. Even if the Strait reopened immediately, the market would still face the challenge of catching up on days' worth of missing shipments — an increasingly difficult task as the backlog grows."

Analysts have said any extended shutdown or severe restriction in the waterway could push oil markedly higher, worsening inflation risks and putting pressure on the White House after months in which fuel prices had hovered below levels seen in much of 2024 and early 2025.

President Donald Trump, who made lower energy costs a central part of his 2024 campaign, brushed aside concerns Thursday about the possibility of a lasting spike in gasoline prices.

"I don't have any concern about it," Trump told Reuters.

"They'll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit."

The administration has argued that military and naval steps underway will help stabilize markets, while investors remain focused on how long the conflict lasts and whether tanker traffic can move safely through the Gulf.

Wright also signaled confidence that the market will adjust faster than many drivers fear.

He said the timeline for prices to ease will be weeks, not months.

For consumers, the next phase will likely depend less on domestic demand than on events in the Middle East.

Shipping lanes, refinery flows, and oil exports will drive the price outlook day by day.

• Gas Spikes to $3.20 as War Shakes Oil Markets
• Hormuz Shutdown Worsens After US Hits Iranian Warship; Tankers Stranded for 5th Day