Iran war: Trump says he'll tap Strategic Petroleum Reserve to cut energy costs

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President Donald Trump said Wednesday that he will tap the Strategic Petroleum Reserve to help lower energy costs during the Iran war.

“We’ll do that, and then we’ll fill it up,” Trump said in an interview with Cincinnati broadcaster WKRC.

“I filled it up once, and I’ll fill it up again, but right now, we’ll reduce it a little bit, and that brings the prices down,” the president said.

Gasoline prices in the U.S. have risen to about $3.58 per gallon on average as the Iran war has triggered a massive disruption of global oil supplies, according to motorist group AAA. The current retail price is nearly 22% higher than the same period last month when gas cost about $2.94.