US Will Mitigate Oil Price Spike for Americans, Rubio Says
3 March 2026 9:36 AM IST3 March 2026 9:36 AM IST
Oil and gas prices have surged following Israeli and U.S. strikes on Iran and retaliation by Tehran that forced shutdowns of oil and gas facilities across the region
US Secretary of State Marco Rubio speaks to reporters. (AP Photo/Manuel Balce Ceneta)
The U.S. will take action to mitigate rising energy prices due to a spike in the price of oil caused by the Iran conflict, Secretary of State Marco Rubio said.
"Starting tomorrow, you will see us rolling out those phases to try to mitigate against that ... We anticipated this could be an issue," Rubio told reporters on Monday.
He added that Treasury Secretary Scott Bessent and Energy Secretary Chris Wright would announce the plans on Tuesday.
Trump is scheduled to meet with Bessent and Wright at 2 p.m. on Tuesday, the White House said.
Oil and gas prices have surged following Israeli and U.S. strikes on Iran and retaliation by Tehran that forced shutdowns of oil and gas facilities across the region and disrupted shipping in the crucial Strait of Hormuz.
( Source : Reuters )
Next Story