Energy Secretary Jennifer Granholm described the effort as “a strategic release of these reserves” in a statement about the announcement Tuesday. From Memorial Day to July 4th”
She said this is being done to “ensure there is sufficient supply in the tri-state area and the Northeast at a time when hardworking Americans need it most.”
“The Biden-Harris administration is focused on:” lower prices at the pump Especially for American families whose drivers are leaving for the summer driving season,” Granholm added.
Gasoline prices typically rise in the summer, when Americans hit the road amid warmer weather and summer vacations.
Gasoline prices are often driven by business cycles and global factors; The president’s influence is limited. Nevertheless, prices are often subject to political scrutiny, especially in election years.
Congress mandated the sale Stockpiling gasoline in the Northeast as part of Bill to keep government open earlier this year. Once the barrels are sold, the law directs the administration to close the reserves. created After Superstorm Sandy.
See the full report for more information. zahir.com.
