The fuel will be released from the Northeast Gasoline Supply Reserve, established in 2014 after Superstorm Sandy disrupted gasoline supplies in the New York City area.
Biden Taps Oil Reserves, Releases 1 Million Gallons In Effort to Reduce Price at Pump hngn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hngn.com Daily Mail and Mail on Sunday newspapers.
The Biden administration's Tuesday announcement touts a move officials said would help lower gas prices for consumers ahead of the summer driving season.
Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump – Butler Eagle butlereagle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from butlereagle.com Daily Mail and Mail on Sunday newspapers.
The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer.
The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said.