Biden Administration to Release 1 Million Barrels of Gasoline from Northeast Reserve to Lower Summer Prices
The Biden administration announced on Tuesday that it will release 1 million barrels of gasoline from a Northeast reserve created after Superstorm Sandy, aiming to reduce summer gas prices. The gasoline will be sold in 100,000 barrels increments from storage sites in New Jersey and Maine. This method will foster competitive bidding to ensure gasoline…