President Obama Taps Oil Reserves To Keep Gas Prices Down

Wednesday, President Obama announced he would release 30 million barrels of oil from the nation's reserves. That could mean saving money at the pump.

The president said he made the decision to help meet the high demand for fuel throughout summer.

KFOX14 spoke to some El Pasoans about gas prices.

Carlos Rivera said, "Back then I used to pump $20 and it was more than half a tank sometimes. Now I pump $20 and it's like a quarter of a tank."

Gas prices in the U.S had been climbing for months and were expected to break the record of $4.11, set in 2008, sometime this summer.

The skyrocketing prices forced some to change their driving habits.

Rivera told KFOX14, "I just use the car to go to work and the rest of the time I take my bicycle."

Val Hinajosa said, “Enough to where I want to buy a moped. I mean a Vespa to kind of cut down."

For the first time in months, AAA showed gas prices began to dip over the past six weeks.

Although gas prices have gone down, Ryan Adams told KFOX14, "I do the best I can with whatever cash I can, but when it comes down to it, it really hurts the wallet."

This is only the second time a president has tapped into the strategic petroleum reserve, and Obama's surprise decision to release the 30 million barrels of oil from the nation's emergency supply has ignited a fierce debate in Congress.

But local drivers said they're hopeful prices will continue to drop.

"We really need to get it back to where it's at because right now it's getting a little too expensive," said Adams.

Rivera said, "I know that I could be using that money for something else you know but I have to pay for gas and I have to go places."

AAA shows that gas prices are trending down but consumers say we won’t see the difference from the oil released for a couple of weeks.