Biden Admin Contracts 1,000,000 Barrels From Emergency Gasoline Stockpile To ‘Lower Prices’ Ahead Of July 4th

The Biden administration is selling off a million barrels of gasoline from an emergency reserve in a deliberate effort to cut prices ahead of the upcoming holiday weekend.

The Department of Energy (DOE) announced that it has awarded contracts to five energy companies to purchase the barrels the administration is releasing from the Northeast Gasoline Supply Reserve (NGSR), which is part of the federal Strategic Petroleum Reserve (SPR) system. The NGSR releases are intended to “help lower gas prices ahead of the Fourth of July holiday,” according to DOE.

“The Biden-Harris Administration continues to take strategic action to lower prices for American consumers in every aspect of their lives— especially as summer driving season ramps up,” Energy Secretary Jennifer Granholm said of the contracts. “By releasing this reserve ahead of July 4th, we are ensuring sufficient supply flows to the Northeast at a time hardworking Americans need it the most.”

Biden Could Dip Into Already-Depleted Oil Stockpile Again As Election Loomshttps://t.co/PIT2n3XG5o

— Daily Caller (@DailyCaller) June 18, 2024