The U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter from Ranking Member Elizabeth Warren, joined by Senate Energy and Natural Resources Committee Ranking Member Martin Heinrich, asking White House Chief of Staff Susie Wiles to explain the Administration’s plan to address rising energy prices and related inflation. The letter also asks whether Administration officials agree with President Trump’s description of inflation as “fake” and what steps the President will take to lower costs for households. The senators say gasoline prices have reached their highest level in four years, with a national average of USD 4.39 per gallon, more than USD 1.25 higher than when President Trump took office, and that monthly energy inflation in March was the highest in more than 20 years. They argue that the President’s war with Iran has disrupted roughly one-fifth of global oil supply by effectively halting traffic through the Strait of Hormuz, with knock-on increases in prices for items including airline tickets, clothing, and groceries. The letter requests answers no later than May 14, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-05-04
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member seeks White House response by May 14 on plan to address surging energy prices
The U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter from Ranking Member Elizabeth Warren and Senator Martin Heinrich asking the White House to explain its plan to address rising energy prices and inflation. The senators cite gasoline prices at a four-year high of USD 4.39 per gallon and the highest monthly energy inflation in more than 20 years, and attribute these developments in part to the President’s war with Iran and disruption of oil flows through the Strait of Hormuz.