What is the strategic oil reserve?
What is the strategic oil reserve?
user
It is a shared reserve of crude oil and refined petroleum products that the U.S. government owns and manages for use in the event of a disruption in oil supply.  It’s intended to protect against oil supply disruptions that might occur in wartime.  As far as I know, this reserve has not been tapped in peacetime.
assistant
Can it be used to lower the price of gas in the USA?
user
Gasoline prices in the U.S. are a matter of supply and demand.  The amount of oil that is on the market affects the price.  If all the crude oil reserves were opened, the price of oil would go down.  But I don’t think it would go below the current price.
assistant
That makes sense. I hope we get some reduction in gas prices soon.
user