Biden to Release 1 Million Barrels of Gasoline from Northeast Reserve Ahead of July 4

May 21, 2024, 05:41 PM

President Biden has announced the release of 1 million barrels of gasoline from a Northeast reserve in an effort to lower gas prices at the pump. This reserve, established after Superstorm Sandy, is being liquidated as required by Congress as part of a budget deal to avert a partial government shutdown. The Department of Energy has timed the sale to coincide with the summer driving season. The move aims to alleviate high fuel costs ahead of the busy summer travel period and the July 4th holiday. Critics argue that this decision could compromise national security and is politically motivated, particularly in an election year. The reserve holds a total of 42 million gallons.