Energy Crisis Not Over, Petrol Prices Expected to Remain High Until 2027

Petrol prices in the United States are expected to remain high and are unlikely to drop below $3 per gallon, equivalent to Rp51,000 per gallon, until 2027. This situation deals a blow to the Donald Trump administration, which had previously promised a drastic reduction in energy prices. The statement was made directly by US Energy Secretary Chris Wright. “I don’t know. It could happen by the end of this year. It might only happen next year,” he said, as quoted from The Guardian on Tuesday, 21 April 2026. That response has drawn attention because it contradicts Donald Trump’s campaign promise during the 2024 presidential election. At that time, Trump even pledged to lower petrol prices to below $2 per gallon, or about Rp34,000 per gallon. As is known, in a campaign speech in September 2024, Trump emphasised that the energy sector would be key to the US economic recovery. “Energy will bring us back to rise,” said Trump. “That means we will lower petrol prices to below $2 per gallon, lower the price of everything from electricity bills, food, airline tickets, to housing costs.” However, the reality on the ground shows the opposite direction. Petrol prices surged sharply after Iran responded to the joint US and Israeli attack by closing the Strait of Hormuz twice. The Strait of Hormuz is a vital route for global oil trade, through which most of the world’s crude oil supply passes. The closure of this route immediately triggered a spike in international energy prices. Before the Iran war began, the national average petrol price in the US was at $2.98 per gallon, or about Rp50,660. But by the end of March, the price had jumped to $3.98 per gallon, equivalent to Rp67,660. Entering April 2026, the average petrol price has even stabilised above $4 per gallon, or about Rp68,000, sparking widespread concerns over rising prices of other goods and services. Nevertheless, Chris Wright is still trying to calm the public by stating that prices may have reached their peak and will start to fall. “Prices have likely peaked and will start to decline,” he said.