President Donald Trump announced the release of 172 million barrels from the U.S. Strategic Petroleum Reserve as global oil prices rise amid tensions affecting the Strait of Hormuz.
Trump Announces Release of 172 Million Barrels From U.S. Oil Reserve to Lower Gas Prices
President Donald Trump announced plans to release 172 million barrels of oil from the Strategic Petroleum Reserve in an effort to ease rising fuel prices in the United States.
During a visit to Ohio, Trump said the move would help stabilize energy markets and bring down gasoline prices for consumers. “I filled it up once, and I will fill it up again, but right now we will reduce it a little bit, and that brings the prices down,” he told a local television station.
Shortly afterward, the U.S. Department of Energy confirmed the plan in a statement, saying the oil release will begin next week and could take about 120 days to complete.
Energy Secretary Chris Wright said the action will also be part of a coordinated global effort led by the International Energy Agency. The agency announced that its member countries will collectively release 400 million barrels of oil from national reserves — the largest coordinated release in history.
The move comes as oil prices surge following tensions in the Middle East, particularly after Strait of Hormuz, one of the world’s most critical oil shipping routes, was disrupted.
According to government data, the U.S. reserve currently holds more than 415 million barrels of oil.
The decision also revives debate over how the reserve should be used. In 2022, former President Joe Biden authorized a release of 180 million barrels to help lower energy costs following the Russian invasion of Ukraine.
Republicans at the time criticized that move, arguing the reserve should primarily be used for national security emergencies rather than price control.
Wright said the current administration plans to replenish the reserve within a year, aiming to replace about 200 million barrels, which would exceed the amount being released.
Meanwhile, rising oil prices have pushed gasoline costs higher across the country. The average U.S. gas price reached $3.58 per gallon, up from $2.94 a month ago, according to recent data.
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