WASHINGTON – Vice President JD Vance said he couldn’t predict when average gas prices would fall below $3 per gallon with the Labor Day holiday approaching but that the U.S. military bottling up Iran prevented a worldwide energy crisis.
Treasury Secretary Scott Bessent was asked in July when gas prices could fall to $3 and he said Labor Day was possible. But AAA says gas prices average $4.14 for the approaching holiday, up from $3.83 for the July 4 holiday.
“We’re talking about things that are inherently unpredictable,” Vance told reporters at the White House on Sept. 3.
“We’ve been quite successful up to this point,” Vance said of the war against Iran. “Gas, frankly, could have been much, much higher were it not for our efforts. But I’m not going to make a promise about when it’s going to return to $3.”
Vance blamed higher gas prices on Iranians targeting commercial shipping in the Strait of Hormuz. But because transportation costs make other parts of the economy more expensive, higher prices have become part of the political debate before the midterm elections.
Vance argued that the Trump administration spurred energy production much more Democrats. He said a deal for 65 billion barrels in Venezuelan oil reserves would help meet worldwide demand. And he criticized Europe for failing to keep energy markets supplied.
Iran’s attacks on shipping came after the U.S. and Israeli militaries attacked on Feb. 28 to prevent Tehran from developing a nuclear weapon. President Donald Trump has argued a temporary rise in gas prices is worth preventing a nuclear Iran.
Vice President JD Vance holds a press briefing, the first since Karoline Leavitt stepped down as press secretary, at the White House, in Washington, D.C., on Sept. 3, 2026.
A U.S. naval blockade prevents Iran from shipping its own oil. The military has also removed mines from the Strait and protected shipping so that 15 million gallons moved through the channel Sept. 2, compared to almost no shipments three months earlier, he said.
“The only reason we don’t have a worldwide energy crisis is because of the leadership of the president, but also because of the might of our military from (Defense Secretary) Pete Hegseth on down,” Vance said.
But no peace talks are being conducted, leaving uncertain when the conflict will be resolved.
“My advice to the Iranians is, ‘Stop acting like crazy people and stop shooting at commercial shipping,'” Vance added.
This article originally appeared on USA TODAY: A return to $3 a gallon gasoline? JD Vance isn’t sure when
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