The Biden administration is ready to release more oil from its strategic stockpile to halt any jump in petrol prices this summer, as the White House battles to contain inflation ahead of the November election.
Amos Hochstein, President Joe Biden’s closest adviser on energy, said that prices at the pump were “still too high for many Americans” and he would like to see them “cut down a little bit further”.
“We will do everything we can to make sure that the market is supplied well enough to ensure as low price as possible for American consumers,” Hochstein told the Financial Times.
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