The U.S. Department of Energy’s Office of Petroleum Reserves has announced that 1 million barrels (42 million gallons) of gasoline in the Northeast Gasoline Supply Reserve will be released. The release is timed to impact on gasoline prices as Americans hit the road this summer.
U.S. Secretary of Energy Jennifer M. Granholm said:
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. By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and northeast at a time hardworking Americans need it the most.
The fuel is expected to be transferred or delivered no later than June 30, just in time for the July 4 holiday.
The Northeast Gasoline Supply Reserve includes gas stored in South Portland.
The Biden administration says it is releasing 1 million barrels of gasoline from storage sites in Maine and New Jersey in a bid to lower prices at the pump this summer.https://t.co/fVdbBaoqwP
— CBS 13 News (@WGME) May 21, 2024
Latest Local Central Maine News
