Trump announces oil release from government reserves as gas prices rise
Airfind news item
By Rachel Hirschheimer
Published on March 12, 2026.
President Donald Trump has announced a plan to use 172 million barrels of oil from the US Strategic Petroleum Reserve (SPP) in an effort to lower energy prices. The move comes as gas prices rise, with the average price for a gallon of gas at $3.59, a 22% increase compared to the previous month. The US will release the extra oil if the war with Iran ends soon, which experts predict could trigger a sharp decline in oil prices. Despite mixed statements about the progress of the US military mission in Iran, President Trump claimed that the US is in good shape and claimed that he won the war. He also expressed reluctance to leave the region and expressed a desire to finish the job. The Energy Department announced that the release of the oil will take place over the next four months.
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