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U.S. to Release 172 Million Barrels to Combat Rising Gas Prices

3/15/2026

Center

Trump Releases Oil Reserve

172 million barrels will be released from the Strategic Petroleum Reserve to curb oil prices amid the Iran war, per Secretary of Energy Chris Wright.
The release starts next week and will take about 120 days.
U.S. President Donald Trump confirmed plan to reduce reserve oil temporarily before replenishing it.
Gas prices are surging, averaging $3.63 per gallon, with analysts warning that Middle East instability could lift prices further.

Right

Californians Confront Gas Prices

California drivers face gasoline prices of $5.50 per gallon, well above the national average.
Prices have risen due to a mix of state policies, taxes, and international turmoil linked to the Iran war.
Consumer Watchdog, an advocacy group, recommends enforcing a steady fuel supply and greater transparency on gasoline stocks.
As prices rise, Californians rely more on public transit, and ridership has increased.
Local communities report economic strain as families adjust travel plans.

History

Historical Context

Established in 1975 following the 1973 oil crisis, the U.S. Strategic Petroleum Reserve (SPR) was designed to store up to 727 million barrels of crude oil to counter supply disruptions. As of 2023, the SPR's inventory has been significantly reduced, with 172 million barrels released amid rising gas prices, reflecting ongoing vulnerabilities in the U.S. economy to global oil market fluctuations.

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Trump Releases Oil Reserve

172 million barrels will be released from the Strategic Petroleum Reserve to curb oil prices amid the Iran war, per Secretary of Energy Chris Wright.
The release starts next week and will take about 120 days.
U.S. President Donald Trump confirmed plan to reduce reserve oil temporarily before replenishing it.
Gas prices are surging, averaging $3.63 per gallon, with analysts warning that Middle East instability could lift prices further.

1 / 3