---
title: "JUST IN: The Biden administration announces it is releasing 1 million barrels of gasoline from a Northeast reserve."
description: "These reserves were established to supplement in times of a natural disaster. However, the Biden Administration said this is a move to lower gas prices ahead of the summer.\nThe sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. Energy Department officials said this should help create lower gas prices by July 4th.\nEnergy inflation is still a major issue.\nSource: The Kobeissi Letter"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [JUST IN: The Biden administration announces it is releasing 1 million barrels of gasoline from a Northeast reserve.](https://blog.syzgroup.com/syz-the-moment/just-in-the-biden-administration-announces-it-is-releasing-1-million-barrels-of-gasoline-from-a-northeast-reserve)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | May 22, 2024, 10:14:25 AM

[View full post](https://blog.syzgroup.com/syz-the-moment/just-in-the-biden-administration-announces-it-is-releasing-1-million-barrels-of-gasoline-from-a-northeast-reserve)

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