US Energy Secretary to Urge Refiners to Boost Fuel Output

U.S. Energy Secretary Chris Wright said on Monday he would speak with American refiners about increasing fuel production, aiming to bring down gasoline prices that remain elevated following the U.S.-Israeli conflict with Iran.

Speaking at an Exxon Mobil rig site in Midland, Texas, Wright noted that U.S. refineries are already operating at record levels, but some Middle East facilities have reduced output. He said he would ask what the government can do to help refiners further ramp up throughput.

"The United States refineries are running at record high, but we have refineries in the Middle East that are turned down," Wright told reporters. "So I'll be talking later today with a number of American refiners about what we can do in the government to help them further ramp up their throughput."

Wright emphasized that increasing refinery output both domestically and abroad is essential to lowering prices at the pump. The average U.S. price for regular gasoline is over $4.06 per gallon, according to motorist group AAA, more than a dollar higher than a year ago.

High fuel costs pose a political challenge for President Donald Trump ahead of November's midterm elections, where Republicans aim to keep control of Congress. Trump has defended the conflict with Iran, saying that paying a bit more for gasoline is a worthwhile price to prevent a "very evil country" from obtaining nuclear weapons.

Wright said Trump is asking Americans to "bear with him" because the world cannot afford Iran having a nuclear weapon.