NGSR aimed at alleviating gasoline prices as Americans gear up for the summer driving season and ahead of U.S. elections this fall. 'The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,' said U.S. Secretary of Energy Jennifer M. Granholm.
Successful bidders will receive their allocations by June 30, 2024, ensuring ample supply ahead of the July 4th holiday. Bids are due by 1100 a.m. Central Time on May 28, 2024, with revenues from the sale directed to the U.S. Treasury. This initiative is part of a broader strategy to manage the country's petroleum reserves effectively and ensure energy security.
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