Shaheen Statement on President Biden’s Push to Lower Gas Prices & Address Supply Issues through the Strategic Petroleum Reserve

November 23, 2021

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) released the following statement in response to President Biden’s announcement that his administration will address surging gas prices by making available 50 million barrels of oil from the Strategic Petroleum Reserve:

“Families in New Hampshire and across the nation are facing sky-high gas prices, exacerbating the financial pressures families have experienced throughout the pandemic. Especially with the holiday travel season around the corner, now is not the time for surging gas prices,” said Senator Shaheen. “President Biden’s move today to increase the supply of oil through the Strategic Petroleum Reserve will help meet the demand and lower prices for families and businesses alike. I applaud the President’s coordination with key allies to address surging global demand that’s raising costs for Americans. Lowering gas prices will help families reunite after months and years apart during the pandemic, and ensure hard-earned money can be directed where it’s needed most – not at the pumps."

Earlier this month, Senator Shaheen sent a letter to President Biden urging the administration to utilize tools to lower U.S. gasoline prices for American consumers. In light of a combination of variables contributing to higher prices at the pump for American families and businesses, she joined Senators in asking the administration to consider a release from the Strategic Petroleum Reserve and a ban on crude oil exports. Shaheen also joined a letter last month urging President Biden to address our country’s heating needs by releasing inventory from the Strategic Petroleum Reserve and the Northeast Home Heating Oil Reserve, as well as by limiting natural gas exports to combat surging prices.