U.S. to release 50 million barrels of oil from strategic reser | tWiLiGhT

U.S. to release 50 million barrels of oil from strategic reserve

Biden directed the Department of Energy on Tuesday to release 50 million barrels of oil from the U.S. Strategic Petroleum Reserve to help lower fuel prices.

It's the Biden administration's most direct effort yet to tamp down on high gasoline prices that have become a political headache for the White House amid wider inflation.

Gasoline prices are averaging around $3.40 a gallon, more than double their price a year ago, according to the American Automobile Association.

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