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US Puts 1m Bbl Gasoline Reserve Up for Sale

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The Biden administration is putting its cache of 1m bbl of gasoline on the market, after being ordered to liquidate the reserve by congress.

  • The sale of the Northeast Gasoline Supply Reserve, equal to 42m gallons, was announced by the Energy Department May 21.
  • The Energy Department added that it was timed to help supress gasoline prices during summer driving season.
  • Congress ordered the sale of the reserve in a government funding that became law in March.
  • The fuel will be transferred or delivered no later than June 30.
  • The cache was created in 2014 but has never been used.
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The Biden administration is putting its cache of 1m bbl of gasoline on the market, after being ordered to liquidate the reserve by congress.

  • The sale of the Northeast Gasoline Supply Reserve, equal to 42m gallons, was announced by the Energy Department May 21.
  • The Energy Department added that it was timed to help supress gasoline prices during summer driving season.
  • Congress ordered the sale of the reserve in a government funding that became law in March.
  • The fuel will be transferred or delivered no later than June 30.
  • The cache was created in 2014 but has never been used.