As Trump’s Iran War Chaos Sends Oil And Gas Prices Up For American Families, Leader Schumer Calls On Trump To Tap The Strategic Petroleum Reserve For Relief At The Pump

New York, N.Y. - Today, Senate Democratic Leader Chuck Schumer (D-NY) called on the Trump administration to immediately release oil from the Strategic Petroleum Reserve to stabilize markets and help lower prices for families. Leader Schumer says selling U.S. oil to China as prices spike is a mistake, and Trump should focus on bringing gas prices down at home.

Senate Democratic Leader Chuck Schumer (D-NY) today called on President Trump to immediately release oil from the Strategic Petroleum Reserve (SPR) to lower gas prices for American families, as Trump's ongoing military conflict with Iran sends energy costs surging across the country.

Since the conflict began on February 28, gas prices have jumped 43 cents per gallon nationally, pushing the average to approximately $3.41 per gallon, a 14 percent increase in a single week and the highest prices Americans have seen since 2024. The conflict has cut the world off from roughly one-fifth of its global oil supply, as tankers that normally carry oil out of the Persian Gulf through the Strait of Hormuz have stopped moving.

Every dollar increase in the price of an oil barrel translates into roughly a 2.5-cent increase in gas prices, and those costs ripple across the entire economy, driving up diesel, jet fuel, and heating oil prices, which make everything from groceries to flights more expensive for American families.

"The Strategic Petroleum Reserve exists for moments exactly like this," said Leader Schumer. "When wars and global crises disrupt energy markets, the United States has the ability to act, but President Trump and his administration are refusing to do so. Trump should release oil from the SPR now to stabilize markets, bring prices down, and stop the price shock that American families are already feeling thanks to his reckless war."

The American public broadly opposes Trump's war with Iran and the administration has offered no clear goals or strategy. Continued disruptions will drive up energy costs well beyond the duration of military operations. Even a short-term oil price spike of a few months can significantly squeeze household budgets and leave lasting marks on the broader economy. President Trump has declined to act, saying the market will "heal very quickly" and that he is willing to tolerate rising prices, stating: "If they rise, they rise."

"While rising prices may work for Trump's billionaire buddies, real Americans are already suffering under Trump's higher costs for electricity, groceries, and healthcare," Schumer added.

Energy Secretary Chris Wright yesterday suggested the SPR is not yet necessary. The administration has not taken any immediate steps to ease pressure on American consumers due to the effects of the reckless war of choice against Iran.

"American families are suffering from higher prices as the effects of Trump's reckless war become pain at the gas pump and beyond as high gas prices trickle down making everything more expensive," Schumer said. "They cannot afford to simply wait and hope prices come down. The President has a solution right here at home, and he should use it."

Schumer also announced plans to introduce legislation banning the sale of U.S. oil to China, after reports surfaced that the Trump administration is considering such a move even as domestic prices climb.

"Thinking about selling oil to one of our biggest adversaries while American families pay more at the pump shows just how unplanned and unfocused this administration is," Schumer said. "The administration must also stop attacking reliable, low-cost clean energy, which helps shield American families from exactly these kinds of price shocks by diversifying affordable supply. When reckless war and chaos drive oil prices higher, the Strategic Petroleum Reserve exists to help the United States manage these emergencies, stop the price shock, and protect American families. It is time to use it."

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