The White House announced Tuesday that it had ordered the release of 50 million barrels of crude from the country’s strategic reserve to lower energy costs, in coordination with other countries, such as China.
The decision is an effort to lower rising gas prices. Gasoline prices nationwide have averaged about $ 3.40 a gallon, more than double the previous year, according to the American Automobile Association.
The liberation has been coordinated with other countries, such as India, Japan, South Korea and Great Britain, which are large consumers of energy.
The US Department of Energy will offer crude from the Strategic Petroleum Reserve through two routes: 32 million barrels will be released in the coming months and will return to the reserve in the following years, according to the White House. Another 18 million barrels will be part of an oil sale that Congress had already authorized.
