Trump orders oil reserve release to cut gas prices

President Donald Trump is pushing emergency measures to lower gasoline prices before the November midterm elections, as pump prices hover near historic highs and threaten to erode Republican support.

The White House is considering tapping the U.S. Strategic Petroleum Reserve, releasing additional barrels to boost supply and ease costs at the pump. Trump has also floated suspending federal gas taxes, though such a move would require Congress and could face legal hurdles. The moves come after months of rising prices driven by post-pandemic demand, supply chain disruptions, and Russia’s invasion of Ukraine, which tightened global oil markets. Gasoline prices have fallen from their June peak but remain about 20% higher than a year ago, according to AAA.

Trump’s political team sees energy costs as a top voter concern heading into the midterms, with polls showing inflation and affordability dominate issues for Americans. The president has repeatedly blamed President Joe Biden’s energy policies—like canceling the Keystone XL pipeline and restricting drilling on federal lands—for contributing to higher prices. Republicans have seized on the issue, arguing that Biden’s climate agenda has made the U.S. more dependent on foreign oil. Meanwhile, oil industry groups warn that tapping reserves could offer only temporary relief and may disrupt long-term energy security.

What happens next could hinge on whether prices continue to fall naturally or spike again due to global conflicts or production cuts. If Trump’s proposals stall in Congress, his administration may rely on regulatory moves or diplomatic pressure on Saudi Arabia and other OPEC nations to increase output. For voters, the outcome could influence how they view the economy—and whether Republicans regain control of Congress in November.