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. |
'The wheels have come off!': Steve McManaman delivers scathing assessment of Liverpool's dismal 3'It's Rory Delass!' Republic of Ireland's Megan Campbell wows fans with her catapult 38The Masters faces a firstBayern Munich kick a ball around a £3,500Fernando Alonso commits his future to Aston Martin by signing new twoPaulo Dybala mocks Matteo Guendouzi by during illGRAND NATIONAL COUNTDOWN: Willie Mullins bullish over eightBrittany Mahomes drastically changes her signature blonde locksAnge Postecoglou admits he has not watched back Tottenham's humiliating 6HKFP Lens: Past Macau meets present in Portuguese photographer Gonçalo Lobo Pinheiro's images