White House Announces Oil Reserve Release To Lower Gas Prices

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FILE - President Joe Biden speaks as he announces that he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, during an event in the South Court Auditorium on the White House complex in Washington, Monday, Nov. 22, 2021. The White House on Tuesday said it had ordered 50 million barrels of oil released from strategic reserve to bring down energy costs. (AP Photo/Susan Walsh, File)
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Gas prices and inflation are top of mind for many Americans. We’re seeing that in multiple polls, especially as we head closer to midterm elections just weeks away.

The White House has confirmed that the Department of Energy has issued a Notice of Sale for 15 million barrels from the Strategic Petroleum Reserve to be delivered in December.

FILE – A Wall Street sign is shown in the Financial District, Wednesday, Oct. 13, 2021, in the Manhattan borough of New York. Wall Street is opening lower and oil prices are falling, Friday, March 31, 2022, as President Joe Biden prepares to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve. (AP Photo/John Minchillo, File)

The goal is to help lower high gas prices. President Biden is also asking companies to pass along lower energy costs to consumers right away. 

Last week, AURN News issues a report about the tension now brewing between President Biden and Saudi Arabia. The Biden administration requested that the Saudi’s planned cuts to oil production be delayed until after the midterm elections. Now, attention and eyes will now be on the pumps to see how far and when gas prices will go down.


Click ▶️ to listen to the AURN News report from Jamie Jackson:

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