Dipping into oil reserves could be more about political gain than cutting gas prices
BATON ROUGE - Drivers lined up at pumps at Costco's Warehouse in Baton Rouge Friday because it's where you can find some of the cheapest gas in the region.
"$3.59, you can't beat that nowhere else," one driver at the gasoline pumps said.
President Joe Biden announced Thursday he will release 180 million barrels of oil from the strategic petroleum reserves to try to help lower the cost of gas.
"It may have some impact, but really the major impact he could have done, was just allow us to drill more," Earl Robnett said.
This is the third time President Biden has tapped into the reserves. Dr. Greg Upton with LSU's Center for Energy Studies says this latest release has already led to lower prices for gas stations, but that isn't reaching consumers just yet.
"Prices before the release, wholesale prices, have declined somewhere in the range of about 14 cents a gallon," Upton said.