Biden plans a major withdrawal from the country's oil reserves to control gas prices

President Biden announced a plan to draw 1 million barrels of oil per day — an unprecedented push to use emergency stocks to try to take the edge off of soaring gasoline prices. | via NPR

at the beginning of this month — moves that had only temporary impacts on climbing prices.

"How far down, I don't think anyone can tell," he said, noting that today's gasoline prices are based on purchases made in the past, so there could be a delay until prices actually drop. Republicans have sought to pin the blame for higher prices squarely on Biden. Biden and Democrats have deflected blame for rising oil prices on Russia, a major oil exporter whose shipments have been somewhat crimped by financial sanctions over its invasion of Ukraine.

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