Oil Prices Fall After 27 Countries Tap Into Oil Reserves

Posted on June 24, 2011

President Obama tapped into the U.S. strategic oil reserve. Obama joined 26 other countries to tap into a total of 60 million barrels of oil. ABC News reports that the countries moved to increase the oil supply because rising oil costs were starting to hurt the economy.

Gas prices have fallen a few cents this week. They are also down about twenty cents from a month ago. The release of oil reserves could help the downward trend continue. Take a look:

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