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Biden tackles high gas price with release of oil from US reserve

01:34

Biden tackles high gas price with release of oil from US reserve

President Joe Biden has ordered the release of 50 million barrels from the US strategic petroleum reserve in a bid to ease rising gas prices over the next few months.

This action comes in conjunction with similar measures by China, Japan, India, South Korea, and the UK, amid fears that oil producing nations are deliberately holding back production.

In an address about the economy on Tuesday, Biden told the American people "Right now, I will do what needs to be done to reduce the price you pay at the pump".

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