White House released 1M barrels of gasoline, attempting to bring prices down – By Timothy Nerozzi (FOX Business) / May 21, 2024
The White House hopes to ensure the oil is supplied to retailers by the summer travel season
The White House is announcing the release of over 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve in an attempt to lower prices, as inflation weighs on voters ahead of the November election.
President Biden’s administration said it was conscious of average Americans’ struggles with food costs, especially ahead of vacation season.
“The Biden-Harris administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,″ Energy Secretary Jennifer Granholm said in a statement.
She continued, “By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state (area) and Northeast at a time hardworking Americans need it the most.”
