U.S. DOE Says Office Of Petroleum Reserves Said Contracts Awarded For Sale, Liquidation Of 1M Barrels Of Gasoline In Northeast Gasoline Supply Reserve; 1M Barrels Being Sold At Average Price Of $ 2.34 Per Gallon & Will Help Lower Gas Prices Ahead Of Fourth Of July Holiday; Contract Awarded To BP, George E. Warren, Vitol, Freepoint Commodities, Irving Oil
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The U.S. Department of Energy has awarded contracts for the sale and liquidation of 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve. The gasoline is being sold at an average price of $2.34 per gallon to help lower gas prices ahead of the Fourth of July holiday. Contracts were awarded to BP, George E. Warren, Vitol, Freepoint Commodities, and Irving Oil.
July 02, 2024 | 1:49 pm
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BP has been awarded a contract for the sale of gasoline from the U.S. Northeast Gasoline Supply Reserve. This move is expected to help lower gas prices ahead of the Fourth of July holiday.
BP's involvement in the sale of gasoline from the reserve is likely to positively impact its revenues and stock price in the short term due to increased sales volume and the strategic timing ahead of a major holiday.
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