Current location:Stellar Stories news portal > business
Biden to release 1 million barrels of gasoline in bid to lower prices at pump
Stellar Stories news portal2024-05-22 11:07:13【business】1People have gathered around
IntroductionWASHINGTON (AP) — The Biden administration said Tuesday that it is releasing 1 million barrels of ga
WASHINGTON (AP) — The Biden administration said Tuesday that it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer.
The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said. The move is intended to help “lower costs for American families and consumers,″ the department said in a statement.
Gas prices average about $3.60 per gallon nationwide as of Tuesday, up 6 cents from a year ago, according to AAA. Tapping gasoline reserves is one of the few actions a president can take by himself to try to control inflation, an election year liability for the party in control of the White House.
Address of this article:http://namibia.highlanderdistrict.org/content-33a998983.html
Very good!(33)
Related articles
- Election deniers moving closer to GOP mainstream as Trump allies fill Congress, report shows
- North Carolina bill compelling sheriffs to aid ICE advances as first major bill this year
- Terms for Mike Tyson's fight with Jake Paul include heavier gloves, shorter rounds
- Sports Emmy Awards will honor 8 individuals as Gold and Silver Circle inductees
- State Supreme Court and Republican congressional primary elections top Georgia ballots
- Mexican officials regret US decision not to retry American rancher in fatal shooting of Mexican man
- Arkansas' elimination of 'X' for sex on driver's licenses spurs lawsuit
- Georgia governor signs bill into law restricting land sales to some Chinese citizens
- It's so hot in Mexico that howler monkeys are falling dead from the trees
- Chris Pine dons plaid blazer to honor his hero Jeff Bridges at 49th Chaplin Award Gala in NYC
Popular articles
- China sanctions former US lawmaker who supported Taiwan
- Terms for Mike Tyson's fight with Jake Paul include heavier gloves, shorter rounds
- 2 die when small plane crashes in wooded area of northern Indiana
- Want to avoid Alzheimer's? What the experts do themselves to slash their risk of getting the memory
Recommended
Tennessee latest state to mandate automatic defibrillators at high schools
Life sentence for gang member who turned northern Virginia into 'hunting ground'
St. John's Chris Ledlum and Jordan Dingle suing NCAA for denying them 2024
Former MVP Mike Trout needs surgery on torn meniscus
Juneteenth proclaimed state holiday again in Alabama, after bill to make it permanent falters
Olympic refugee athlete Lohalith suspended in the team's 3rd doping case ahead of Paris Games
North Carolina bill compelling sheriffs to aid ICE advances as first major bill this year
Brad Stevens selected as NBA's executive of the year after Celtics' NBA
Links
- Oldest living conjoined twins, Lori and George Schappell, die at 62
- China Focus: China moves quickly to contain COVID
- China poised for strong recovery in 2023, says Morgan Stanley economist
- Commentary: Uncertain times call for steady China
- Chinese modernization conceived in China, opportunities it brings belong to world
- Xi inspects spring farming work
- Understanding what an open China means to the world through "thinner" suitcases
- Hostile intention hides in US “support” for WHO
- U.S. a total hypocrite when it comes to safeguarding cybersecurity
- Senior Chinese legislator emphasizes importance of handling ethnic affairs according to the law