The Biden administration announced Tuesday it completed the sale of 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve, a move officials hope will help further bring down the cost of gas and other goods as record numbers of Americans are expected to travel surrounding the July 4 holiday.
“There's a lot of price of gasoline in the price of the food,” Hochstein said. “So when we prevent prices from going up at the pump, we're actually also preventing and helping prices of food to stabilize and come down.” “By releasing this reserve ahead of July 4th, we are ensuring sufficient supply flows to the northeast at a time hardworking Americans need it the most,” Energy Secretary Jennifer Granholm said in a statement.
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