Small gas-price impact seen from petroleum reserve sale

Small gas-price impact seen from petroleum reserve sale

As the U.S. braces for a busy holiday travel period, the Biden administration’s decision Tuesday to sell 50 million barrels from the Strategic Petroleum Reserve should lower gasoline prices in the short term, analysts said.In an effort coordinated with other nations, the U.S. will make up to 32 million barrels of crude oil available and will sell an additional 18 million barrels of oil, as Congress mandated in budget legislation in 2018, the Ene…