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flag Treasury Secretary Bessent says gas prices may stay above $3 until late summer due to Strait of Hormuz instability.

flag Treasury Secretary Scott Bessent stated gas prices may not fall below $3 per gallon until late summer, citing ongoing instability in the Strait of Hormuz. flag Bessent offered no specific date, noting that while prices could drop, gas stations might not lower costs as quickly as crude prices fall. flag Energy Secretary Chris Wright acknowledged earlier expectations for price drops were "aggressive," as the national average remains near $4.11.

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