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‘Matter of Weeks’: Scott Bessent Vows High Gas Prices Will ‘Come Down Very Quickly’
Jennifer Bowers Bahney
Mon, May 4, 2026 at 11:01 AM CDT
2 min read
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Treasury Secretary Scott Bessent assures that high gas prices will decrease in a matter of weeks due to increased oil production globally.
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Treasury Secretary Scott Bessent vowed that high gas prices will come down in a matter of weeks when pressed about the cost to American consumers on Fox’s America’s Newsroom Monday.
His comments came after host Dana Perino mentioned that AAA showed an average of $4.44 a gallon in the United States, and asked Bessent, “Would you say to the American consumer that help is on the way?”
“Help is on the way as of today,” Bessent said. “I think that the market will be very well supplied. The other things, too, I am confident on the other side of this, the world’s gonna be awash in oil. The UAE has come out of OPEC, they’re going to be pumping more. You know, OPEC just announced they’re gonna be pumping more, and the U.S. has record crude deliveries. We’re the number one energy super power in the world and we have never delivered so much crude.”
“I imagine there was a lot of sticker shock this past weekend for Americans out and about with their own families and getting around,” followed up host Bill Hemmer. “Is there a price you calculated at which we can no longer tolerate or stand? Or even, if we were to get to five bucks a gallon, is that a psychological mark that we and you would rather stay away from?”
“We are cognizant that this short-term blip up in prices is affecting the American people but I am also confident on the other side of this, prices will come down very quickly. The conflict will end. If we look at the stock market — what does the stock market see right now? The stock market is looking through this. Corporate earnings are good. Employment is good. And this gasoline, this temporary aberration, will be over in a matter of weeks or a month,” Bessent said.
Watch the clip above via America’s Newsroom on Fox News.
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