Source: Zack Budryk, THE HILL, 11/23/21


Americans are unlikely to see a significant drop in gas prices immediately after the Biden administration's decision to release 50 million barrels of oil from the nation's reserve.   However, several factors are already in play that may drive prices down.  The White House announced the release of 50 million barrels from the Strategic Petroleum Reserve (SPR) Tuesday morning. The announcement was made in concert with South Korea, China, Japan, India and the U.K., all of which will also release oil from their own strategic reserves.

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