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May 13th, 2008
Posted: 11:07 AM ET
NEW YORK (CNNMoney.com) — Congress, as part of a plan to tame record oil prices, is set to vote Tuesday on measures aimed at stopping President Bush from putting oil in the nation’s Strategic Petroleum Reserve (SPR). While the bill has wide support in both the Senate and House, analysts say it won’t do much to lower gas prices. The U.S. Energy Information Administration (EIA) predicts oil prices would fall by only about $2 a barrel — or shave 4 to 5 cents a gallon off the price of gas — if the president suspended deliveries to the SPR.
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