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The Independent UK
The Independent UK
National
Jasmine Fernández

Trump’s Iran war drops US oil reserves to a 40-year low with gas prices skyrocketing

  • America's Strategic Petroleum Reserve has dropped below 300 million barrels, to its lowest level in 40 years, due to ongoing withdrawals during the war with Iran .
  • Petroleum experts warn that repeated rapid drawdowns threaten the stability of the underground salt caverns, raising the risk of structural cave-ins.
  • Drivers face record late-summer gas prices , with the AAA national average reaching a mid-August high of $4.07 per gallon.
  • The Department of Energy rejected concerns over cavern collapse, stating that the Trump administration is responsibly managing the national security asset.
  • A Government Accountability Office report previously warned that continuous drawdowns reduce the reserve's long-term viability, with officials describing infrastructure fixes as temporary Band-Aids.

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