A historic U.S. emergency reserves release to lower domestic fuel prices exported 5 million barrels of oil to Europe and Asia last month according to reuters.com.

As U.S. gasoline and diesel prices rise President Biden renews a call for gasoline suppliers to cut their prices.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices, according to reuters.

The Strategic Petroleum Reserve (SPR) is draining with about 1 million barrels per day being released, falling to the lowest its been since 1986.

Reuters reports that U.S. crude futures are above $100 per barrel while gasoline and diesel prices are above $5 a gallon in one-fifth of the nation.

“The SPR remains a critical energy security tool to address global crude oil supply disruptions,” a Department of Energy spokesperson said according to reuters, adding that the emergency releases helped ensure a stable supply of crude oil.

Data shows that the fourth-largest U.S. oil refiner shipped about 470,000 barrels of sour crude to Trieste, Italy, an arm of French oil major TotalEnergies exported 2 cargoes of 560,000 barrels each, and cargoes were also shipped to the Netherlands, India, and China.

“Crude and fuel prices would likely be higher if (the SPR releases) hadn’t happened, but at the same time, it isn’t really having the effect that was assumed,” said lead oil analyst at Kpler, Matt Smith.