The U.S. Department of Energy announced on Tuesday that it will release 1 million barrels of the government’s reserve gasoline supply in the northeastern region of the country.
The distribution will reportedly come from facilities in New Jersey and Maine and are planned to be let go in tranches of 100,000 barrels at a time, or approximately enough to provide motorists with 4.2 million gallons.
“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,” Energy Secretary Jennifer Granholm said in a statement on the matter.
The decision comes as last month the White House cancelled plans to refill the Strategic Petroleum Reserve, citing higher than expected crude prices, after reducing it by more than 40% in 2022.
According to the American Automobile Association, the average price for unleaded fuel is $3.60 per gallon, up 6 cents from last year.
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