Energy Secretary Chris Wright predicts a brief gas price spike due to the Iran conflict, with prices not exceeding $3.45 per gallon. He attributes the recent 14% increase to disruptions in Asia and Europe, and global energy stockpiles. Wright believes the current military action is effective in neutralizing Irans threats, leading to potential lower energy prices and increased stability in the Middle East. The Trump administration is considering tapping the Strategic Petroleum Reserve and allowing Russian oil sales to India as temporary measures.
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