US top diplomat vows action to ease energy price surge

U.S. Secretary of State Marco Rubio has stated that Washington will take measures to mitigate the impact of rising energy prices, driven by a sharp spike in oil costs amid the conflict with Iran, Reuters reports.

"Starting tomorrow, you will see us rolling out those phases to try to mitigate against that ... ​We anticipated this could be an issue," ​Rubio said.

Speaking to reporters on Capitol Hill on the evening of March 2, Rubio said that Treasury Secretary Scott Bessent and Energy Secretary Chris Wright will present relevant plans on Tuesday. According to the schedule released by the White House, their meetings with President Donald Trump are set for 2:00 p.m. local time (23:00 Baku time).

Oil and gas prices surged sharply on March 2 following strikes by Israel and the U.S. on Iran, and Tehran’s subsequent retaliatory actions. The escalation led to the suspension of operations at several oil and gas facilities in the region and disruptions to shipping through the strategically important Strait of Hormuz.

The U.S. Departments of Energy and Treasury have not yet commented on the details of potential measures.

By Khagan Isayev