President will announce Wednesday that another 15 million barrels will be released from the Strategic Petroleum Reserve, in an effort to relieve gas prices ahead of the midterm elections. Senior administration officials confirmed the number on a call with reporters Tuesday night, echoing a from earlier, saying that the oil would be ready for delivery by December. The president is set to deliver remarks Wednesday where he'll also point out that average gas prices have fallen by about $1.15 per gallon since their peak in June.
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