![\"Trump](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/04\/pixabay_6892337.jpg\")
<\/p>\nGas prices \u201cwill rapidly come back down,\u201d as soon as the war against Iran ends, President Donald Trump said during his address to the nation last week.<\/p>\n
That\u2019s not what his Department of Energy said Tuesday.<\/p>\n
<\/p>\n
If hostilities in the war were to stop by the end of April, the price of gas at the end of the year would still higher than it was at the start of the war, and would remain higher in 2027, according to Energy Information Administration\u2019s Short Term Energy Outlook.<\/p>\n
\u201cWe forecast retail gasoline prices to peak at a monthly average of close to $4.30 per gallon in April and average more than $3.70\u201d per gallon in 2026. As much as a year from now, gas could still average as much as $3.60 nationally.<\/p>\n
A gallon of regular was averaging $3.13 nationally prior to the war, according to the EIA.<\/p>\n
Nevada is largely dependent on California for retail gasoline, and the price tends to cost between 20% and 25% more than the national average. For example, on Tuesday, the price of gas averaged $4.14 nationally, and $5.09 in Nevada, according to AAA.<\/p>\n
In a statement accompanying the EIA outlook, the agency\u2019s administrator acknowledged the projections released Tuesday could be overly optimistic.<\/p>\n
\u201cOur petroleum forecasts are highly contingent on the interaction of three variables,\u201d said EIA Administrator Tristan Abbey. \u201cFirst, to even run our model we have to make an assumption about the duration of the Strait of Hormuz closure. Second, we know that the closure is forcing production to shut in, but we can only estimate these outages. Third, just as we had never before seen the strait close, we\u2019ve never seen it reopen. What exactly that looks like remains to be seen.\u201d<\/p>\n
But restoration of oil flows \u201cwill take months,\u201d Abbey said.<\/p>\n
In the meantime, \u201cOur modeling indicates that fuel prices will continue to rise until these variables resolve,\u201d he said.<\/p>\n
The agency\u2019s outlook did not include scenarios in which hostilities continued past the month of April.<\/p>\n","protected":false},"excerpt":{"rendered":"Gas prices \u201cwill rapidly come back down,\u201d as soon as the war against Iran ends, President Donald Trump…\n","protected":false},"author":2,"featured_media":371635,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":{"0":"post-371634","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/371634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=371634"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/371634\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/371635"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=371634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=371634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=371634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}