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Biden releases 1 million barrels of gasoline in bid to lower summer costs

The Biden administration on Tuesday announced the release of 1 million barrels of gasoline, a move aimed at cutting prices at the pump this summer, as the November election nears.

The administration's move comes as summer driving season gets underway, when prices typically bump up as a result of demand from travelers and changes made in the formulation of the fuel to meet summer air quality rules. Congress had earlier mandated that the reserve, which was created in the aftermath of Superstorm Sandy, be shut down, which prompted the sale.

Still, the move underscored the White House's ongoing attempts to tame prices for staples, especially with voters still feeling sour on the economy.

https://www.washingtonpost.com/business/2024/05/21/biden-gas-inflation/

 

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