US to use strategic oil reserves

The US is planning to keep fuel prices low by using its own strategic reserves, Energy Secretary Steven Chu said, Vedomosti reports.

The last time strategic oil reserves were used was in 2011. President Barak Obama’s administration noted rising fuel prices as a result of sanctions against Iran. The US will have presidential polls in November. Chu added that they are cooperating with the International Energy Agency. They plan the joint use of strategic reserves.