President Donald Trump announced that his administration will tap the US Strategic Petroleum Reserve (SPR) to combat skyrocketing gas prices fueled by the ongoing conflict with Iran, according to CBS News.

The move, confirmed by Energy Secretary Chris Wright, will see the United States release 172 million barrels of oil starting next week. The release is part of a massive, coordinated effort by the 32-member International Energy Agency (IEA) to inject a total of 400 million barrels into the global market; the largest emergency release in the organization’s history.

Trump addressed rising gas prices in an interview with WKRC, a dual CBS/CW-affiliated television station, saying he would consider tapping the Strategic Petroleum Reserve again. “I filled it up once, and I will fill it up again, but right now, we will reduce it a little bit, and that brings the prices down,” he said.

Energy Secretary Wright stated that the 172-million-barrel drawdown will take approximately 120 days to complete. He also pledged that the US would work to replace about 200 million barrels within the next year to restore the nation’s emergency stockpile, which currently sits at roughly 415 million barrels.

The benchmark US crude oil price, West Texas Intermediate, traded at just over $92 per barrel as of March 11 evening at 8:15 p.m. ET. Prices rose about 7.2% that day and stayed steady after the widely anticipated announcement of a SPR release.

The SPR, housed in sprawling underground caverns across Texas and Louisiana, currently holds approximately 415 million barrels. On a broader scale, the IEA reports that its member nations maintain a collective stockpile exceeding 1.2 billion barrels.