GREENVILLE, N.C. (WITN) – Gas prices have been dropping recently and drivers hope to see that continue following President Biden’s announcement to release more oil from the Strategic Petroleum Reserve.
People in Eastern Carolina are excited as the holiday season and winter months are right around the corner.
“I’d love to see them go down. especially with the heating season coming up, it’s going to be bad on a lot of people. I bought my fuel already so it’s a set price, but a lot of people don’t do that, so they have to suffer whatever happens this winter,” Pitt County resident Dillon Stalls said.
Greenville resident Pamela Talley also wants prices to drop.
“Now that’s good because families will be traveling, so prices need to go down,” Talley said. “I have to get to work, and I know other people have to get to work and people need the gas prices to be low.”
The goal is to give consumers some relief at the pump.
“A little bit of breathing room, a little bit more money in folk’s wallets, a little bit more buying power from doing everything we can to both keep the supply of oil up there and keep the price of gasoline at the pump down there,” Jared Bernstein, White House Economic Advisors councilmember said.
For Talley, she looks forward to one area of her finances being lowered, as the cost of living has increased.
“The cost of living is high, and we need more money to feed our families and support our families,” Talley says.
As inflation and the cost of living have increased, the intention is to help those in need.
“Someone who’s struggling with elevated inflation, that’s the person we’re trying to help,” Bernstein said. “Everyone needs to step up and play their part and that means making sure that these price benefits pass through to consumers at the pump.”
Biden also says they will refill the emergency reserve, as it is now at its lowest level in nearly 40 years, when the price of oil drops.
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