Turns out the trick to lower gas prices is driving less, according to the US energy secretary

Turns out the trick to lower gas prices is driving less, according to the US energy secretary

Turns out the trick to lower gas prices is driving less, according to the US energy secretary US Department of Energy Secretary Chris Wright says gas prices will decline after Labor Day. Mandel NGAN / AFP via Getty Images Americans have been paying some of the highest prices for gas in years since the US attacked Iran in February.That war shows no signs of cooling off anytime soon. The US and Iran traded multiple strikes on each other's oil tankers over the weekend.US Department of Energy Secretary Chris Wright, however, said, while making the rounds on the Sunday morning news shows, that despite the ongoing conflict, gas prices will soon go down because summer is ending."As we pass Labor Day tomorrow, you'll start to see demand decline as we move out of summer driving season," Wright said on ABC's "This Week."Wright also said the Trump administration's deal to secure 65 billion barrels of oil reserves from Venezuela will help. On Truth Social, President Donald Trump said in August the deal would "substantially" lower gas prices, though analysts said that could take a while given Venezuela's underdeveloped oil infrastructure.On CNN's "State of the Union," Wright said the Trump administration also eased rules for US refiners, allowing them to produce more gasoline."If I had to guess, they're more likely to go down than go up," Wright said of gas prices.The cost of living, including the cost of gas, has become a critical issue for the Trump administration ahead of the midterm elections. Bringing down prices for American consumers was a central promise during the president's election campaign.Gas prices first spiked after the US launched a surprise attack on Iran in February, and Iran responded by effectively shutting down the Strait of Hormuz. The near-closure of the strait, through which a fifth of the globe's oil and liquefied natural gas passed before the war, has caused oil prices to spike worldwide. Brent crude oil, for example, closed at $95.52 a barrel on Friday. One day before the war began, Brent oil closed at $72.48. Jet fuel prices also rose, making air travel more expensive.The American Automobile Association said Labor Day weekend travelers are seeing the highest gas prices ever for this time of year. The national average for regular gas was $4.14 on Sunday, a 4-cent increase from late August and a 38% increase since before the war began."The national average has never been above $4 per gallon on Labor Day. The current Labor Day record is $3.82, set on September 3, 2012," AAA said. Read next Lauren Edmonds is an award-winning reporter on the Business News team. When news isn't breaking, she covers personal finance, kitchen-table economics, and paths to financial freedom, including investing, real estate, side hustles, and small business. She also writes about guaranteed and universal basic income programs in the United States.Lauren has also covered lifestyle and entertainment, digital culture, and more. She has a master's degree from the Columbia University Graduate School of Journalism and resides in New York City.Do you have an interesting story to tell? You can reach Lauren at ledmonds@businessinsider.com or on Signal at ledmonds0.07.Popular StoriesNetflix wants to be Disney when it grows up Why Hollywood is paying this 17-year-old up to $20,000 to boost film trailers with TikTok editsHere's all the free money Trump's talked about giving Americans during his second term — and where it all standsA 17-year-old earned $72,000 after investing his e-commerce profits into stocks. Here's why he bet on the tech industry.Lawmakers float a nationwide basic income experiment that would cover the cost of a 2-bedroom apartmentNearly 30,000 Americans have received about $335 million in basic income. Here are 5 takeaways. Americans ditch suffocating healthcare costs and divisive politics to retire in Italy: 'It's the way they approach life'From 'road-schooling' to gas that costs $500, this family of 4 shares what it's like living in a solar-powered Greyhound bus Gas Prices Oil

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