"I don't know the future of energy prices -- often I will speculate or look at those things. I would say, gasoline prices, it looks like they peaked about a week or so ago," Wright told the Senate Energy and Natural Resources Committee.

He said the high point was $1 a gallon cheaper than the peak during the administration of Trump's predecessor Joe Biden, adding: "Yet we're in the midst of ending a 47-year conflict in the Middle East, a major energy producing region."