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11/29/2022, 8:55 PM (Source: TeleTrader)
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Biden: SPR releases helped gas prices to fall

United States President Joe Biden (pictured) claimed on Tuesday that the US Strategic Petroleum Reserve releases are helping to drive down gas prices.

"Our releases from the Strategic Petroleum Reserve – and my call for global partners to release reserves of their own – have helped gas prices drop below where they were prior to Putin's invasion of Ukraine," said Biden on Twitter.

Furthermore, the president also added that in this way, his government was "blunting Putin's price hike." Since the beginning of the war, the current administration has faced great pressure because of the global rise in gas prices due to the war in Ukraine.

Baha Breaking News (BBN) / JG