Sen. Ruben Gallego (D-Ariz.) is pressing the Energy Department for details on plans to release oil from the Strategic Petroleum Reserve as gasoline prices have risen over 70 cents per gallon since strikes on Iran began. The letter to Energy Secretary Chris Wright asks how the SPR move will affect gas prices and supply in Arizona, as well as questions about the planning process.
The Energy Department plans a phased distribution of 172 million barrels of crude from the nation's strategic oil reserves as part of a wider planned release of 400 million barrels from various member governments of the International Energy Agency. This comes as energy effects from the Iran war spill into Capitol Hill politics, with Gallego viewed as a potential 2028 Democratic presidential hopeful.
DOE confirmed Friday that the U.S. action will be an "exchange," under which companies will return borrowed oil with additional barrels as a "premium." The department said this will strengthen the SPR "while stabilizing markets at no cost to American taxpayers" and has issued a request for proposals for the first 86 million barrels.
Trump administration officials are seeking to tamp down public concern about gas prices, with President Trump telling reporters Friday that U.S. gasoline prices "are going to come tumbling down" when the conflict ends. Top officials have been saying they expect the war to end within several weeks, though the energy crisis continues to surface in political discussions around midterm elections and early 2028 presidential race positioning.