Oil prices have skyrocketed over the week following the U.S. and Israel’s launch of their war against Iran, yet President Donald Trump played down the notion of turning to America’s to relieve the pressure on Saturday.
Reporters on Air Force One asked Trump if he would consider tapping the reserve. As the war continues to escalate across the Middle East—including regions critical to oil and gas production and transportation—the global energy sector has been strained. In the U.S., consumers are , a key cost-of-living expense.
“We’ve got a lot of oil. Our country has a tremendous amount,” Trump said. “There’s a lot of oil out there. That’ll get healed very quickly.”
Ahead of the November midterm elections, Trump’s Republican Party is under . Tapping the reserve is among the few actions a president can take independently to try to make an .
Below is an overview of what this would entail:
What is the Strategic Petroleum Reserve?
The is a network of underground salt caverns in Texas and Louisiana that can hold over 700 million barrels of oil, though it is not currently full. As of the end of last month, the reserve contained more than 415 million barrels—up from around 395 million barrels at this time in 2025, .
The reserve was established after the 1970s Arab oil embargo to provide the U.S. with an emergency oil supply. Energy Department data shows its oil volume peaked more than 15 years ago, when it held over 726.6 million barrels at one point.
How is it used?
Today, the U.S. exports more petroleum than it imports. Still, the reserve remains and over time—from offsetting the impact of hurricanes and ship-channel closures to raising funds for deficit reduction.
Former presidents have turned to the reserve during supply disruptions linked to geopolitical conflicts, adding more oil to the market in hopes of lowering prices. In 2022, following Russia’s invasion of Ukraine, President Joe Biden the reserve, pushing the stockpile to its lowest level since the 1980s. In 1991, President George H.W. Bush authorized withdrawing nearly 34 million barrels during the Gulf War, though only 17 million were used. And in 2011, President Barack Obama approved releasing 30 million barrels to counter supply disruptions from Libya.
Why isn’t Trump tapping the reserve now?
As the Iran war continues to escalate, oil prices have spiked rapidly, reaching their . On Friday, Brent crude—the international benchmark—jumped 8.5% to $92.69 per barrel, up from nearly $70 just late last week. Meanwhile, U.S. benchmark crude climbed 12.2% to $90.90 a barrel on Friday.
The Trump administration to address higher prices: the Treasury Department said India can buy crude oil and petroleum products from Russia until April 4, calling the sanctions waiver a “stop-gap measure” to “alleviate pressure” on the market.
When asked if he would take other steps like tapping the SPR, Trump downplayed the need to use the supplies—noting the U.S. has “a tremendous amount” of oil—and instead focused on criticizing his predecessor, Biden, for drawing down the reserves.
Trump said he would begin refilling the SPR at the “appropriate time, which is basically a gut instinct.”
Would gas get cheaper if the reserve was tapped?
Numerous factors influence prices at the pump.
In the U.S., the national average gasoline price on Saturday stood at about $3.41 per gallon—up roughly 43 cents from a week ago, per AAA. But refineries buy crude oil in advance, so if the war drags on, the pain of higher prices could worsen. Even if more oil were withdrawn from the SPR, refineries might still work with more expensive supplies for a short time.
As always, some states have higher average prices than others due to factors like nearby refinery supply, local fuel requirements, and differing tax rates. On Saturday, California had the highest average at nearly $5.08 per gallon, while Kansas had the lowest at about $2.90 a gallon.
Gas prices are regressive—meaning lower-income people spend a higher percentage of their income on fuel than affluent Americans. So price increases hit the most price-sensitive consumers hardest.
How do they get the oil out?
Oil is lighter than water—this is why disasters like the Exxon Valdez tanker spill and Deepwater Horizon drilling rig incident create surface slicks. To remove oil from the reserves, , making the crude float to the surface where it is captured and sent via pipelines to refineries.