- President Joe Biden has raided the Strategic Petroleum Reserve three times, but the actions have had minimal impact on oil and gasoline prices, data showed.
- “Today, we’re launching a major effort to moderate the price of oil — an effort that will span the globe in its reach and, ultimately, reach your corner gas station, God willing,” Biden said on Nov. 23, 2021, after the first SPR release.
- “The action I’m calling for will make a real difference over time,” the president remarked on March 31, 2022, after the third release.
Oil and gasoline prices increased after each of President Joe Biden’s three Strategic Petroleum Reserve releases which were designed to curb consumer costs.
Biden ordered a 50-million-barrel SPR release in November, a 30-million-barrel release on March 1 and a 180-million-barrel release on March 31, saying the “historic” actions would ease pressure felt by Americans at the pump. But marketplace and government data analyzed by The Daily Caller News Foundation paint a different picture.