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Biden to speak on gasoline prices Wednesday as SPR release reportedly planned

biden-to-speak-on-gasoline-prices-wednesday-as-spr-release-reportedly-planned

President Joe Biden will speak about gasoline prices on Wednesday, the White House said, as his administration is reportedly moving toward a release of at least another 10 million to 15 million barrels of oil from the U.S. Strategic Petroleum Reserve. Bloomberg News and others report that such a release would be the latest in a 180-million-barrel program that began in the spring. White House chief of staff Ron Klain said in a tweet on Tuesday that Biden would speak on the subject “tomorrow,” but offered no further details. Analysts, meanwhile, don’t expect an SPR release to lead to a significant fall in gasoline prices at the pump, MarketWatch reports.

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