The Biden administration plans to sell and liquidate gas reserves that will amount to 1 million barrels.
The Biden administration on Tuesday said that it will sell and liquidate 1 million barrels of gasoline targeted for the summer travel period to help ease prices at the pump, the U.S. Department of Energy said.
The government has called for bids at no later than 11 a.m. Central time on May 28 for the solicitation of the gas, which they said will likely come from retailers and terminals. The delivery of the fuel will be delivered by June 30 to target the busy period for holiday travelers during the July Fourth holiday.
The move was geared to « maximize its impact on gasoline prices, helping to lower prices at the pump as Americans hit the road this summer, » the Department of Energy said in a statement.
« 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, » U.S. Secretary of Energy Jennifer M.
