White House Considering Release Of Diesel From US Stockpile Amid Supply Issues - Reports

White House Considering Release of Diesel From US Stockpile Amid Supply Issues - Reports

WASHINGTON (UrduPoint News / Sputnik - 24th May, 2022) The Biden administration is considering a release of diesel fuel from the US stockpile in order to address supply issues, CNN said in a report, citing a senior White House official.

The emergency declaration being considered would authorize US President Joe Biden to release diesel from the national stockpile amid rising prices and lowering inventories, the report said on Monday.

The administration would release a small portion of the diesel in the Northeast Home Heating Oil Reserve, which contains 1 million barrels of the fuel - only enough to supply the region for a day - the report said.

Diesel inventories in the Northeast have fallen to record lows due to an array of factors including surging demand and secondary impacts of the situation in Ukraine, the report also said.

Diesel has only been released from the regional stockpile once in history, following Superstorm Sandy in 2012, the report added.