CNN’s Jake Tapper pressed Energy Secretary Chris Wright Sunday on when Americans can expect gas prices to drop to under $3 a gallon, as a second round of peace talks is set to get underway in Pakistan.

Iran reneged on Foreign Minister Seyed Abbas Araghchi’s statement Friday that “the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire,” by firing on two Indian vessels trying to make their way through the strait.

Iran also announced Saturday that it was implementing its own blockade, stating, “Approaching the Strait of Hormuz will be considered cooperation with the enemy and any offending vessel will be targeted.”

“The president said today the U.S. loses nothing [when] the strait is closed,” Tapper said. “But gas prices have surged more than a dollar a gallon for regular unleaded just since the war began. So it’s not true, right? I mean, the U.S. does lose something.”

Wright answered, “Putting this 47-year conflict to an end and preventing Iran from getting nuclear weapons, of course, has come with short-term disruption. I think we’ve managed it fantastically, though. Here we are in the middle of the largest interruption in flow of energy ever, and gasoline prices peaked a week ago about a dollar below the peak during the Biden administration.”

“So, when you were on the show March 8th, I asked you when gas prices would go under $3 a gallon for regular unleaded. You said, quote, ‘In the worst case, this is a weeks thing, this is not a months thing.’ That was six weeks ago,” Tapper said. “So we’re still within the weeks realm, but we’re two weeks away from the months thing. When do you think it’s realistic for Americans to expect that gas will go back to under $3 a gallon?”

“I don’t know,” Wright answered. “That could happen later this year. That might not happen till next year. But prices have likely peaked and they’ll start going down. Certainly with a resolution of this conflict, you’ll see prices go down. Prices across the board on energy prices will go down.”

“But it might not be under under $3 a gallon until 2027?” Tapper asked.

“Under $3 a gallon is pretty tremendous, in inflation-adjusted terms,” Wright said. “We had that in the in the Trump administration, but we hadn’t seen that in inflation-adjusted terms for quite a long time. We’ll get back there for sure.”

Watch the clip above via CNN.

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