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The U.S. Secretary of State, Marco Rubio, assured this Monday that the administration of President Donald Trump will take steps to mitigate the impact of rising oil prices on American consumers, following the escalation of the conflict with Iran.
Rubio made the statements at the Capitol, following a briefing with congressional leaders regarding the situation in the Middle East, as reported by the agency Reuters.
The head of diplomacy announced that Treasury Secretary, Scott Bessent, and Energy Secretary, Chris Wright, will announce a phased plan on Tuesday to contain the rise in energy prices.
"Starting tomorrow, you will begin to see how we implement those phases to try to mitigate the situation. We anticipate that this could become a problem," said Rubio to the press.
Oil and gas prices soared on Monday following Israel and the United States' attacks on targets in Iran, along with Tehran's response. The military actions prompted the shutdown of oil and gas facilities in the region and disruptions to maritime traffic through the Strait of Hormuz, a strategic route for global crude transportation.
The White House reported that President Trump will meet this Tuesday at 2:00 p.m. with Bessent and Wright to assess the energy situation and coordinate the government's response. So far, the Treasury and Energy Departments have not provided additional details on the specific measures that will be adopted.
The rise in crude oil prices raises concerns about its potential impact on inflation and the cost of living, particularly regarding gasoline prices, a sensitive issue for millions of American families.
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