Biden orders sale of 1 million barrels of gasoline to lower prices


With national gasoline prices averaging $3.60 a gallon, the Biden administration, much like it did in 2022 with the release of oil from the Strategic Petroleum Reserve, announced a move designed to ease prices.

Critics contend it is a political move designed to attract support for President Biden who is slumping in the polls. The White House announced it is releasing 1 million barrels or 42 million gallons of gasoline from a reserve established in the Northeast following Superstorm Sandy.

The gasoline will be sold from storage sites in New Jersey and Maine.

“The Biden-Harris administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” Energy Secretary Jennifer Granholm said in a statement. “By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and Northeast at a time hardworking Americans need it the most.”

Reports explained the sale is also in step with Congress which mandated that the administration sell off the 10-year old reserve and close it. The language was included in the spending deal approved in March by Congress in order to avoid a partial government shutdown.

The Associated Press reported a spokesman for GasBuddy explained the release will likely do very little to lower the cost of gasoline across the country.