US Energy Secretary: "Gasoline and diesel prices have passed their peak... further declines expected with expanded su

U.S. Energy Secretary Chris Wright said gasoline and diesel prices have passed their September peak and will fall substantially further over the coming months, citing expanded U.S. energy production and refining capacity. In a Nov. 3 Fox Business interview, Wright said the Trump administration is working with producers to restart idled refineries and expand existing facilities, and that rising product supply from the U.S., India and the Arabian Gulf will push prices lower. He argued that high prices are the best cure for high prices, since they spur the supply response now underway. The remarks matter for inflation and fuel-demand outlooks, and the next signals to watch are refinery restart timelines and confirmed increases in refined-product supply from those regions.