Biden Administration Considers Further Oil Reserve Releases to Manage Gas Prices

Officials signal readiness to tap strategic stockpile if prices rise during summer travel season

Amos Hochstein, a top energy adviser, emphasized the need to keep gas prices low for American consumers.
The administration has already released significant amounts from the Strategic Petroleum Reserve (SPR) to combat high prices.
Current gas prices have decreased but remain higher than pre-2021 levels.
Efforts to replenish the SPR have been ongoing but have not restored pre-drawdown levels.
Energy Secretary Jennifer Granholm mentioned potential acceleration in SPR replenishment by year-end.