The Strategist

The US names a way to avoid rising gasoline prices

10/07/2021 - 08:58

The US could release crude oil from the government's strategic reserves to avoid rising petrol prices, Energy Secretary Jennifer Granholm said.

"This is a tool we are currently considering," she was quoted by Finanñial Times.

The publication notes that gasoline prices are rising in the US, reaching their highest level in seven years.

According to Granholm, a ban on the export of crude oil cannot be ruled out. "That's a tool we haven't used yet, but it exists," she said.

Earlier, Poland's Deputy Climate and Environment Minister Adam Guibourge-Czetwertyński asked the EC to investigate indications of manipulation of the EU gas market in light of the price spike. 

According to him, a number of factors contributed to this, not least "market manipulation" by the "dominant gas supplier".