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U.S. DEPARTMENT OF ENERGY ANNOUNCES NOTICE OF SALE OF ADDITIONAL CRUDE OIL FROM THE STRATEGIC PETROLEUM RESERVE

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the staff of the Ridgewood blog

Washington DC, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserves today announced a Notice of Sale of up to 10 million barrels of crude oil to be delivered from the Strategic Petroleum Reserve (SPR) in November 2022. This Notice of Sale is part of  President Biden’s announcement on March 31, 2022 authorizing the sale of crude oil from the SPR as continued support to help address the significant market supply disruption caused by Putin’s war on Ukraine and aid in lowering energy costs for American families.

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Gas Prices Tank

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the staff of the Ridgewood blog

Paramus NJ,Gas prices have been trending sharply downward for the past few weeks, but could go much lower .

As crude oil prices trend close to $30/bbl, Americans are seeing pump prices plummet across the country. On the week, gas price averages in 35 states decreased by double-digits, pushing the national average to $2.25, the cheapest price point of the year. Eleven States Have Gas Price Average of $2/Gallon or Less.

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