Once the Strait Opens You’ll See ‘Immediate Relief’ on Gas Prices

On ABC’s “This Week” Sunday, Transportation Secretary Sean Duffy said that once the Strait of Hormuz opens, consumers would see “immediate relief” from gasoline prices.

Partial transcription as follows:

HOST MARTHA RADDATZ: We just heard from our experts that gas prices could break records and that even if the strait opened today, it would take months to recover and for gas prices to come down. What is your reaction?

DUFFY: Well, a couple of things. I will tell you that every time I go to the Oval Office, I hear the president talking about energy prices. This has been going on since he took this second term in Washington. He is worried about American energy domination. He’s making sure Americans produce more and that we lower energy prices. But he is also faced with the idea that there could be a nuclear Iran? And he understands the threat of this reality. Iran has been the world’s most destabilizing force for 40 years. He considers this untenable, and I would agree with him: we cannot have a nuclear Iran. And that’s why he takes action, bold action. And, once again, he will ensure that the world and America are safer as we look forward, not only in the months after this conflict, but in the years and decades after he leaves the presidency.

RADDATZ: So that clearly seems like the most important thing to President Trump. But in the meantime, back to gas prices, do you agree that it could take months, even if the strait opened today, and that these gas prices could reach record levels?

DUFFY: Well, look, so I’m at the DOT. I’m not in the energy business. But from all the briefings I’ve had, once the strait opens, you’ll see prices drop, immediately. And again, there will be a tail to this. It will take time to get back to where we were before this conflict started, but I think you will see immediate relief once the strait opens.

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