DOE releases 1 million barrels from Northeast Reserve in attempt to bring down gas prices

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One million barrels of gasoline have been released from the Northeast Gasoline Supply Reserve in an effort to lower gas prices, the Department of Energy announced Tuesday.

According to the DOE, the barrels will be sold at an average price of $2.34 per gallon — days before the July 4 holiday, when more than 60 million people are expected to hit the roads this year. The move is unlikely to have a significant impact on gas prices, however, as the amount being sold only amounts to a fraction of gasoline used in a single day. 

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