US energy secretary signals fuel prices may drop in coming weeks

US Energy Secretary Chris Wright said Tuesday that fuel prices are expected to decline in the coming weeks.

Wright added, during a press conference in Brownsville, Texas, that it is likely the temporary waiver of the Jones Act will be extended again, which has contributed to lower energy prices in California and along the US East Coast.

Responding to a question about President Donald Trump's comments earlier this week, in which he called on ExxonMobil and Chevron to cut fuel prices at gas stations, Wright said, "President Trump believes in markets and in capitalism. But he will use every tool available to him, including his presidential platform, to encourage and pressure companies to lower energy prices for Americans. I am proud of his passion for this."