Biden Administration Expands Ethanol Gas Sales Amid Decades-High Inflation
On Tuesday, President Joe Biden announced that his administration will allow the year-round sale of E15 fuel, which is normally banned in most states during the summer months due to air pollution concerns.
E15 is a gasoline blend that uses up to 15 percent ethanol—a renewable fuel made from various plant materials including corn. The move to lift the summertime ban on E15 could help save consumers money at the pump.
According to the U.S. Environmental Protection Agency (EPA), E15 is available in 30 states at just over 2,300 stations. Vehicles approved for E15 use include flexible-fuel vehicles and conventional vehicles of the model year 2001 and newer.
Regular gas currently averages $4.08 a gallon, up from $2.86 a gallon a year ago, according to AAA. The national average for a gallon of regular gas is likely to decline if oil prices remain below $100 per barrel, notes AAA.
Yesterday, the U.S. Bureau of Labor Statistics reported that consumer prices gained 8.5% since last March, the largest increase since December 1981. Inflation has achieved fresh 40-year highs for five consecutive months...Full Story »Apr 13 8:17 AM, UB Newswires