Once the president calls for a release, it can take at least 13 days for the oil to go out for delivery, according to the DoE.

The first 90 million barrels will be released from May to July through two notices of sale totaling 70 million barrels, with 20 million barrels already scheduled to be released next month, the department said. The remaining 90 million barrels will be released from August to October.

Last month, the Biden administration announced a release of oil from the reserve, in conjunction with other nations. The president also released about 50 million barrels in November.

Mike Sommers, CEO of the American Petroleum Institute, or API, said in a statement on March 31, "The SPR was put in place to reduce the impact of significant supply chain disruptions, and while today's release may provide some short-term relief, it is far from a long-term solution to the economic pain Americans are feeling at the pump."

According to its website, the API "represents all segments of America's natural gas and oil industry".

Sommers said: "The best thing the White House can do right now is to remove barriers to investment in American energy production and infrastructure. Unfortunately, today (March 31) we heard more mixed signals about developing affordable, reliable and secure American natural gas and oil."