It could take months for U.S. gas prices to recede to their level before the outbreak of war in Iran, economists and energy experts say.

WASHINGTON — Prices at the gas pump likely peaked about a week ago and should start to slowly decline over the coming weeks as the war in Iran comes to a close, Energy Secretary Chris Wright said Sunday.

Residents are paying more at the pump and grocery store as energy prices spike from conflict in Iran, with gasoline surpassing $4 per gallon for the first time since 2022.

The Trump administration is racing to negotiate a second ceasefire with Iran before the current truce expires Tuesday and ahead of a looming 60-day War Powers deadline that could force an end to U.S.

Energy observers are increasingly acknowledging a bottom line for motorists that prices at the pump are likely to be elevated for the foreseeable future — no matter what happens in the short term in the Strait of Hormuz and with another round of peace talks on tap this week.

Gas prices have been going down slowly over the past few days. But it may not last, as a U.S.-Iran ceasefire is about to expire. (AP Photo)

Shoppers accelerated their spending in March from February, but they spent a good chunk of their money at the gas pump.