WASHINGTON (Reuters] – On Thursday, President Joe Biden will declare that the U.S. Strategic Petroleum Reserve will release 1 million barrels of crude oil per day over six months to help lower gasoline prices.

Biden is attempting to reduce gasoline prices which rose after Russia’s invasion in Ukraine.

Biden will announce the news at 1:30 pm EDT (1730 GMT) at the White House.

“After consultation with allies and partners, the president will announce the largest release of oil reserves in history, putting one million additional barrels on the market per day on average – every day – for the next six months,” the White House said.

Additionally, the Defense Production Act was authorized for the support of the production and processing minerals and materials needed to make large capacity batteries. This includes lithium, nickel and cobalt.

The White House described the unprecedented scale of oil releases from Strategic Petroleum Reserve as unimaginable.

The world has not seen oil resources released at such a high rate of 1 million barrels per day for so long. The record breaking release of oil will supply a historical amount to bridge the gap until domestic production increases at the end the year,” the statement said.

According to the White House, the Department of Energy will make use of the income from this release in order to replenish the SPR over the next years.