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The White House announced this Tuesday (23) that the President of the United States, Joe Biden, will authorize the use of the country’s strategic oil reserves to help offset a rise in fuel prices.
The US government has said the Department of Energy will release 50 million barrels of oil from the US-held emergency reserve. The move will be announced in conjunction with other major energy-consuming nations, including China, India, Japan, South Korea and the United Kingdom.
The measure was announced in a White House statement this morning. Biden should address the matter in a speech later this Tuesday.
“US consumers are feeling the impact of high gasoline prices on gas stations and household heating bills, and so are US companies, because oil supplies have not kept up with demand as the global economy emerges from the pandemic,” said the statement from the White House. “That’s why President Biden is using every available tool to work to bring prices down and address the supply shortage.”
The average price of regular gasoline in the United States is US$ 3,403 (R$ 19.15) per gallon (3.78 liters), according to data this Tuesday from the AAA Gas Prices, website of an American automobile organization.
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