Gas prices 2019 and beyond


Biden sold off more than 40% of the Strategic Petroleum Reserve last year to help lower gas prices following the Russian invasion of Ukraine. In total, the White House tapped the reserve four times last year, including when Biden ordered a record-setting 180 million barrels of oil released from the reserve.

The Biden administration plans to buy 2.7 million barrels of oil to help replenish the nation's much-depleted emergency stockpile. The planned purchase for the oil is at an average price of $79 per barrel, the Department of Energy said in a statement on Friday.

However, it is a notable increase from early 2020, when prices were under $20 per barrel. At the time, former President Donald Trump tried to add 77 million barrels of oil to the emergency oil cache, but he was blocked by congressional Democrats.


Unbelievable. Look at those numbers.
 
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