As gasoline prices continue to climb for ordinary Americans thanks to Russia’s invasion of Ukraine, President Joe Biden plans to release around 1 million barrels of oil a day from the Strategic Petroleum Reserve, according to Bloomberg News. The move is meant to control energy prices that have skyrocketed as the war in Europe rages. Crude oil traded at close to $105 a barrel Wednesday, compared with around $60 a barrel one year ago at the height of the pandemic. Inflation rates, which reached a 40-year-high in February, have been a major challenge for the Biden administration as he battles to keep his declining popularity rate from sinking. The Department of Energy says it has more than 568 million barrels of oil in reserve.
