WLWT: UC economics professor reacts to release of oil reserves
Asawari Deshmukh warns that it could be weeks before gas prices drop
In an effort to stave off rising gas prices caused by Russia’s invasion of Ukraine, President Joe Biden announced Thursday that he will tap into the nation’s strategic oil reserves.
Asawari Deshmukh, assistant economics professor-educator at the University of Cincinnati Carl H. Lindner College of Business.
By releasing 1 millions barrels per day over the next six months, Biden estimated the move could drop gas prices somewhere between 10 to 35 cents.
Asawari Deshmukh, assistant economics professor-educator at the University of Cincinnati Carl H. Lindner College of Business, told WLWT that it could be weeks before drivers witness price drops.
“For this announcement to actually take effect, and this crude oil to reach the market, it takes about a week or 10 days, and then it would take another few weeks for it to really show,” Deshmukh said.
Biden’s decision is not a long-term fix, but Deshmukh said this is a prudent time to release the reserves.
“It's a world emergency, so why not use it now?” Deshmukh said. “And we do replenish those reserves.”
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Health care industry is hiring despite a job market that has cooled
April 16, 2026
The US labor market has cooled but the demand for health care workers, expecially skilled nurses, remains strong. Interviews with UC College of Nursing admininstrators Dr. Donna Green and Dr. Lindsay Davis were part of a WCPO segment on health care industry hiring.
AI advances in the liver disease field
April 15, 2026
MASH represents the advanced inflammatory form of metabolic dysfunction-associated steatotic liver disease (MASLD, formerly known as nonalcoholic fatty liver disease), where fat accumulation in the liver triggers fibrosis and progressive liver injury. According to a recent MedCentral article, more AI-based clinical assessment tools in MASH are needed.
UC Graduate College honors 2026 Graduate Student Research Award recipients during Research + Innovation Week
April 15, 2026
The University of Cincinnati Graduate College is proud to announce the recipients of the 2026 Graduate Student Research Awards, recognizing doctoral students whose research, scholarship, and creative work demonstrate excellence in innovation, impact and interdisciplinarity.