Since gas costs are very high, the Biden government will release almost a million barrels of gasoline.
The Northeast Gasoline Supply Reserve (NGSR) will let go of 998,824 barrels.
The NGSR was made to help the northeastern United States recover from Superstorm Sandy.
The release will happen between Memorial Day and July 4 to ensure enough for the Northeast and the tri-state area.
Storage tanks in New Jersey and Maine will be used to get gasoline.Some stores and stations will get their orders by June 30.
This move is meant to help American families and shoppers save money.The release is in line with what Congress ordered to do to eliminate the 10-year reserve.
Gas prices usually go up in the first part of the year because more people drive when it's warmer outside.
It's been a while since gas prices went up this much.Due to how much gasoline is used daily in the U.S., the NGSR release may only have a negligible effect on gas cost
In 2023, the United States used an average of 8.9 million barrels (376 million gallons) of gasoline daily.
The plan comes when elections occur, and the government and Federal Reserve are trying to fight inflation.
The price of gas across the country is about $3.60 per gallon.From the same time last year to now, the average price has gone up by six cents.
One of the few direct things a president can do to affect inflation and gas costs is to draw fuel from national stocks.
The government wants to help American shoppers during a busy travel season and deal with more significant economic problems.
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