Monday, 06 December 2021 06:40 GMT

Gas values lessen when US frees assets, Biden

(MENAFN) President Joe Biden announced that US gas values are going to decrease for customers, nonetheless it is going to take time, this was when he requested the announcement of 50 million barrels of oil from the US planned reserve between the increase of values.

Biden approved high gas values are a "problem" for American families and the world, while marking high value levels in Europe and Asia and recognizing the "impact is real” for customers.

Freeing a supply crisis, Biden approved the biggest announcement from the US planned petroleum reserve, and synchronized similar action with the administrations of South Korea, Japan and the United Kingdom, while China "may do more as well" as Biden declared.

He added "This coordinated action will help us deal with a lack of supply, which in turn helps ease prices," "While our combined action will not solve the problem of high gas prices overnight, it will make a difference. It will take time, but before long you should see the price of gas drop."

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