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Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump

Associated Press

WASHINGTON (AP) — The Biden administration says it’s 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 is from storage sites in New Jersey and Maine and will be allocated in increments of 100,000 barrels at a time. Energy Secretary Jennifer Granholm says the move is intended lower costs for American families and consumers in time for the summer driving season. AAA says prices averaged about $3.60 per gallon as of Tuesday, up 6 cents from a year ago. The Northeast reserve was created a decade ago and is separate from the Strategic Petroleum Reserve in Texas and Louisiana.

Article Topic Follows: AP-National

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Associated Press


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