<p>Transportation Secretary <strong>Sean Duffy</strong> on Sunday said that U.S. consumers could see a rapid decline in gasoline prices if shipping through the Strait of Hormuz resumes normally.</p>



<h2><strong>Strait Of Hormuz Shipping Disruption</strong></h2>



<p>Duffy said during an interview on ABC News's &#34;This Week&#34; that restoring access to the key oil transit route would likely ease market pressure quickly, though full price stabilization would take longer.</p>



<p>&#34;Once the Strait opens, you'll see prices come down, come down immediately,&#34; Duffy said. </p>



<p>He added, &#34;And again, there's going to be a tail to that. It's going to take time to get back to where we were before this conflict began, but you're going to see, I think, immediate relief once the Strait opens.&#34;</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div>

</div></figure>



<div>


<p>
<strong>
Read Also:

Trump Rejects Chris Wright's $3 Gas Forecast As 'Totally Wrong,' Says Hormuz Blockade Is Costing Iran $500 Million A Day
</strong>
</p>


</div>


<h2><strong>Trump Announces ‘Project Freedom</strong>‘</h2>



<p>Trump said on <strong>Truth Social</strong> that multiple countries have requested U.S. assistance to help free commercial ships reportedly stuck in the Strait of Hormuz amid ongoing Middle East tensions.</p>



<p>He said the ships belong to neutral nations that are not involved in the regional conflict and described the situation as affecting &#34;innocent bystanders.&#34; </p>



<p>Trump stated the U.S. will help guide vessels safely through the waterway under a plan he called &#34;Project Freedom,&#34; which he said will begin Monday morning.</p>



<p>Trump also said discussions with Iran are ongoing and could lead to positive developments, framing the effort as a humanitarian step to help crews and companies facing shortages on board. </p>



<p>He added that the operation is intended to support safe passage for commercial shipping and ease disruptions in global trade.</p>



<p>He warned that any interference with the initiative would be met with forceful consequences.</p>



<h2><strong>Gas Prices Jump As Oil Spike Hits US Consumers</strong></h2>



<p>U.S. gas prices had climbed to $4.43 per gallon, up 61% since December, as oil briefly spiked to $126 a barrel amid rising Iran-related tensions disrupting global supply routes, including the Strait of Hormuz.</p>



<p>The Kobeissi Letter estimated the increase had added about $90 billion in annual gasoline costs for Americans compared to a $3-per-gallon baseline.</p>



<p>In California, prices had already topped $6 per gallon near record highs, while diesel costs also remained elevated despite easing slightly from previous peaks.</p>



<p><strong><em>Disclaimer</em>:</strong><em> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>



<div>


<p>
<strong>
Read Also:

EXCLUSIVE: Relief At The Pump? Depends Where You Live—And What Happens In Hormuz, Says Expert
</strong>
</p>


</div>


<p><em>Photo courtesy: Shutterstock</em></p>

603353

<p>Transportation Secretary Sean Duffy stated that U.S. gas prices could drop quickly if shipping through the Strait of Hormuz resumes. He emphasized that while immediate price relief would occur, full stabilization would take longer. Duffy's comments come amid rising gas prices, which have surged to $4.43 per gallon due to tensions affecting global supply routes. Additionally, former President Trump announced 'Project Freedom' to assist commercial ships in the Strait, aiming to ensure safe passage and mitigate disruptions in global trade.</p>

benzinga_article

BP p.l.c.

HSPC

Occidental Petroleum

First Trust Natural Gas ETF

Invesco Great Wall CNI Oil&Gas ETF

Guotai CSI Oil & Gas Industry ETF

SPDR O&G Equip

Pro Ultr Natural Gas

Alerian MLP

ISHRS S&P Glb Engy

VanEck Oil Refiners ETF

SPDR Energy Select

Us Natural Gas

Us 12 Mth Natural Gas

United States Oil Fund LP

Pro Ultrshrt Crude Oil

iShares US Oil & Gas Expl & Prod

VG Energy

iShares US Energy

Bosera CSI Oil & Gas Resources Index ETF

Pro Ultr Bloomberg Crude Oil

First Trust North American Energy Infra Fd

Sean Duffy Says Gas Prices Could Drop Fast If Strait Of Hormuz Reopens: 'You'll See Prices Come Down...Immediately'