Amid soaring oil prices, Trump is now turning to the Strategic Petroleum
Reserve
[March 13, 2026] By
WYATTE GRANTHAM-PHILIPS and CATHY BUSSEWITZ
NEW YORK (AP) — Oil prices have soared since the U.S. and Israel
launched their war against Iran, and President Donald Trump is now
turning to America’s Strategic Petroleum Reserve as part of a wider
agreement from many of the world’s wealthiest countries to tap into
emergency stockpiles.
Trump previously downplayed the need of using reserve oil after the Iran
war broke out, maintaining that U.S. supplies were ample and prices
would soon fall. But that changed Wednesday, when the International
Energy Agency pledged to release 400 million barrels of oil available
from its member nations’ stockpiles, the largest volume of emergency oil
pulled in the organization's history.
The U.S. is one of the IEA's 32 member countries. And the Trump
administration soon confirmed that it would release 172 million barrels
from the Strategic Petroleum Reserve starting next week as part of this
effort — with deliveries set to roll out over 120 days.
The widening war has strained the energy sector globally. And in the
U.S., drivers are already facing higher gas prices, a key cost of
living. Trump's Republican Party is under pressure over the issue of
affordability ahead of November midterm elections. And tapping the
reserve is among the few things a president can do on his own to try to
make an impact on oil prices — although it's not a permanent fix.
Here is a look at what would be involved:
What is the Strategic Petroleum Reserve?
The Strategic Petroleum Reserve is a collection of underground salt
caverns in Texas and Louisiana that can hold more than 700 million
barrels of oil, although it is not currently full. The reserve held more
than 415 million barrels as of the end of last month, up from about 395
million barrels at this time in 2025, according to the U.S. Energy
Department.
The reserve was created after the 1970s Arab oil embargo to give the
United States a supply that could be used in an emergency. The amount of
oil inside peaked more than a decade and a half ago, Energy Department
data shows, when the reserve held more than 726.6 million barrels at one
point.
Will gas prices get cheaper when the reserve is tapped?
While pulling from the reserve may provide some short-term relief, it's
takes a while for new supply to trickle down to consumers — and many
factors go into prices at the pump.
In the U.S., the average price for gasoline has already climbed
nationally — sitting at nearly $3.60 per gallon on Thursday, up about 35
cents from a week ago and 65 cents a month ago, per motor club AAA.
Refineries buy crude oil in advance, so it’s possible that the pain of
higher prices could increase further if the war drags on. And even if
more oil were withdrawn from the reserve, refineries could still be
working with more expensive supply for a bit.
As always, some states also have pricier averages than others, due to
factors ranging from nearby refinery supply to local fuel requirements
and differing tax rates. On Thursday, California had the highest average
of nearly $5.37 per gallon, while Kansas had the lowest of about $3.04 a
gallon.
Gas prices are regressive — meaning lower-income people are more likely
to spend a higher percentage of their money on fuel than affluent
Americans. So increases hurt the most price-sensitive consumers.
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This photo provided by the U.S. Department of Energy shows a section
of the Strategic Petroleum Reserve facility in West Hackberry, La.
(U.S. Department of Energy via AP, File)
 How is the reserve used?
Today, the U.S. exports more petroleum than it imports. But the
reserve remains and has been tapped for various reasons over time,
from offsetting the impact of hurricanes and ship-channel closings
to raising money for deficit reduction.
Former presidents have turned to the reserve amid supply disruptions
spanning from geopolitical conflicts, adding more supply onto the
market in the hope of pushing prices lower. President Joe Biden drew
significantly from the reserve in 2022 following Russia’s invasion
of Ukraine, dropping the stockpile to its lowest level since the
1980s. Back in 1991, President George H.W. Bush also authorized
withdrawing nearly 34 million barrels during the Gulf War, although
only 17 million barrels were used. And in 2011, President Barack
Obama approved the release of 30 million barrels to offset the
disruption of supply from Libya.
Why is Trump tapping the reserve now?
As the Iran war continues to escalate, oil prices have spiked and
swung rapidly. That's because the flow of oil tankers through the
Strait of Hormuz has all but stopped, cutting off a vital passageway
where roughly one-fifth of the world’s oil sails through on a
typical day. Major producers in the region like Iraq, Kuwait and the
United Arab Emirates have also cut production because they are
running out of storage space. And Iran, Israel and the U.S. have all
struck oil and gas facilities, worsening supply concerns.
The price for a barrel of Brent crude, the international standard,
was back over the $100 mark on Wednesday — up from nearly $70 a
barrel just late last week. Meanwhile, benchmark U.S. crude was
$96.12 as of morning trading.
In efforts to alleviate some of the effects of the Iran war on
energy markets, the IEA on Wednesday said it will make 400 million
barrels of oil available. The Trump administration's plans to pull
172 million barrels from the reserve are part of that effort.
Trump frequently criticized the administration of his predecessor,
Joe Biden, for tapping the reserve to try and bring down gas prices.
U.S. Secretary of Energy Chris Wright reiterated that criticism when
announcing the coming release from the reserve on Wednesday — and
said that the U.S. had arranged to replace about 200 million barrels
of reserve oil within the next year.
How do they get the oil out?
Oil is lighter than water — that’s why disasters like those caused
by the Exxon Valdez tanker and the Deepwater Horizon drilling rig
create slicks on the surface. To remove oil from the reserves, water
is pumped into the salt caverns, making the crude float to the
surface, where it is captured and sent through pipelines to
refineries.
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