Biden to sell off 1M barrels of gasoline held in reserve to keep prices low before election

The Biden administration announced Tuesday that it will sell off 1 million barrels of gasoline held in case of emergencies — with the Energy Department explicitly citing an interest in keeping gas prices low over the summer driving season ahead of the November election.

The fuel will be released from the Northeast Gasoline Supply Reserve, a component of the Strategic Petroleum Reserve that was established in 2014 after Superstorm Sandy disrupted gasoline supplies in the New York City area.

“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,” Energy Secretary Jennifer Granholm said in a statement.

“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.”