Key facts
- U.S. Energy Secretary Chris Wright announced plans to reveal steps to increase refinery fuel output.
- The average U.S. gasoline price is over $4.06 per gallon, up nearly 30% from a year ago.
US to unveil steps to boost refinery fuel output amid high gas prices
IN SHORT
U.S. Energy Secretary Chris Wright announced that Washington will soon reveal measures to help refineries increase fuel production, aiming to curb persistently high gasoline prices. The average U.S. price for regular gasoline is over $4.06 per gallon, a nearly 30% increase from a year ago.
Key Numbers
$4.06average U.S. gasoline price per gallon
30%increase in gas prices from a year ago
30ships transited Strait of Hormuz on Saturday and Sunday
Who's Involved
Chris Wright
U.S. Energy Secretary announcing steps to boost fuel output
Donald Trump
President seeking to rein in high gasoline prices
ExxonMobil
Oil company operating rig visited by Energy Secretary Wright
↳ Why This Matters
The administration's efforts to increase fuel production aim to alleviate consumer pain from high gasoline prices, which are a significant economic and political concern ahead of the midterm elections. The situation is further complicated by geopolitical tensions involving Iran and its impact on global oil supply routes.