WASHINGTON - On March 31, President Joe Biden ordered the release of 1M barrels of oil per day from the nation’s strategic petroleum reserve for six months, a bid to control energy prices that have spiked after the U. S. imposed sanctions on Russia over its invasion of Ukraine. The president doesn't know how much gasoline prices could decline but suggested between “10 cents to 35 cents a gallon.” Gas is averaging $4.23 a gallon - compared to $2.87 a year ago. The president also wants Congress to impose financial penalties on oil and gas companies that lease public lands but are not producing. (Source: The AP 03/31/22)
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