← Videos · Energy & Permitting

Wright Tells Ingraham the Hormuz Gas-Price Bump Will Be Temporary and Defends the AI Ratepayer Pledge

March 5, 2026 · U.S. Department of Energy · 0:05:29

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

Energy Secretary Chris Wright joined Fox News’ Laura Ingraham as, according to the program, no vessel had entered the Persian Gulf the previous day after Iran vowed to sink ships transiting the Strait of Hormuz, through which about 20 percent of the world’s oil flows, as the program stated the figure. Wright said the resulting gasoline price increase would definitely be temporary, noted prices remained $2 a gallon below their Biden-administration peak as he stated the comparison, and predicted prices would return below $3 a gallon before too long, as he stated the outlook. He framed the operation against Iran as removing a regime he described as the nation that has killed more American soldiers in the last 20 years than any other, as he characterized it.

Wright said the United States had offered to backstop commercial insurance for vessels in the Gulf and that, when the time is right, the U.S. Navy would escort ships through the strait; he said no vessels had yet taken up an escort because the military is focused on disarming the Iranian regime, as he described current operations. He argued world oil markets are abundantly supplied and American production is at record highs, as he stated the position.

On artificial intelligence, Wright expressed confidence that the tech companies that signed the White House ratepayer agreement would live up to it, saying the companies have worked with the administration since its start to bring AI investment without price increases for Americans. He pointed to Indiana as, he said, the first state to file for an electricity rate reduction request and noted multi-year rate freezes in many other states, as he stated the developments.

Why it matters

The interview fuses the administration’s war and energy messages: a Hormuz disruption presented as a brief bump against record U.S. supply, and the AI buildout defended with a signed pledge that data centers will not raise household electricity prices.

Sources: U.S. Department of Energy, “Secretary Wright Joins Laura Ingraham on Fox News - March 4, 2026”, 2026-03-05 (official upload, embedded above; published 2026-03-05). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.