During the CNBC Invest in America Forum, Treasury Secretary Scott Bessent issued a warning to gas stations that have raised prices, suggesting the Treasury Department will monitor their pricing practices closely. He emphasized that while global oil supply concerns have led to price increases, local gas prices should reflect the actual supply situation, which remains stable due to the U.S. being a net oil exporter. Bessent remarked, "What went up, must now come down," indicating that consumers should expect a decrease in gas prices soon. He also criticized the narrative that local price hikes were directly linked to geopolitical tensions, specifically the conflict with Iran. Industry representatives, including those from the U.S. Oil & Gas Association (USOGA), supported this view, asserting that high prices in certain regions are more a result of local policies than international issues. Overall, Bessent's comments highlight the administration's focus on ensuring fair pricing for consumers amidst fluctuating global oil dynamics.