Bessent: ‘Help is on the way’ on gas prices
By Tara Suter
Published on May 4, 2026.
Treasury Secretary Scott Bessent has stated that "help is on the way" regarding gas prices, with a gallon of regular gas in the U.S. nearing an average of $4.50. The Iranian military has slowed shipping through the Strait of Hormuz due to the ongoing U.K.-Israeli conflict, resulting in higher oil and gas prices in the US and around the world. President Trump has pledged to assist in freeing ships in the Strait.
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