The US 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 Rubio said on Monday, reports Reuters.

Speaking to reporters at Capitol Hill, Rubio said Treasury Secretary Scott Bessent and Energy Secretary Chris Wright would announce the plans on Tuesday.

“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.