The federal government cannot miraculously reduce petrol prices to less than $1 per gallon.
However, a number of measures, other than the national gas tax of 18.3 cents per gallon, influence the cost of our trips to the pump.
The Biden administration plans to temporarily allow high-ethanol content gasoline to be sold in the hot summer months in a bid to tame high fuel prices at the pump
Normally, high-ethanol fuel isn’t sold in the summer to reduce pollution. https://t.co/7qKoPXBnPI
— Whole Mars Catalog (@WholeMarsBlog) April 12, 2022
For the first time in five years, President Biden will declare the Agency for Environmental Protection will allow the use of 15% ethanol blends in gasoline in the summer.
As a measure to cut petrol prices in the United States, Biden will portray the decision as a positive step. It will also improve his image with lawmakers from ethanol-producing jurisdictions.
The Environmental Protection Agency (EPA) will issue a nationwide waiver by removing present limits on the E15 blend.
The disclaimer is scheduled to take effect on June 1 and last until September 15, according to White House officials.
In a phone call with reporters on Tuesday night, federal officials emphasized the cost-saving advantages of E15, which is around 10 cents per gallon less expensive than gasoline.
Before Biden’s announcement, a senior government official told reporters this step provides consumers with “a better choice, savings, and also a supply of fuel that is not reliant on the oil market, which is currently volatile as a result of Putin’s activities in Ukraine.”
The announcement comes as gas prices in the United States rose to a national average of $4.33 per gallon last month, as a result of Russia’s involvement in the Ukraine conflict.
According to the AAA, gas prices continue to hover near $4 per gallon across the country.
“The emphasis here is also on ensuring that we are addressing the near-term power supply emergency and doing so by using domestically produced fuels,” the official continued.
President Biden is scheduled to make the announcement, while visiting the POET bioprocessing plant south of Des Moines, Iowa.
Both Republicans and Democrats encouraged Biden to approve the temporary use of the E15 blend of gasoline. This happened in recent weeks as part of an effort to lessen the pain at the pump for consumers in the United States.
Iowa Republican Sen. Chuck Grassley published a statement Monday, encouraging President Joe Biden to take action.
“I believe that President Biden will have the perfect chance tomorrow to stand with Iowa farmers by legalizing summer sales of E15, which will be legal in the state this year,” he explained in the statement.
You know what would drop food, fertilizer, & fuel prices overnight?
End the US ethanol program.
Here's what the US wastes on corn ethanol every year:
-5 billion tons N fertilizer.
-68 trillion BTU natural gas.
-57,000 square miles prime farmland. Not acres, SQUARE MILES.
— Dr Sarah Taber (@SarahTaber_bww) April 5, 2022
“Decisions made by the Biden administration over the course of this year have demonstrated that the president strongly supports big oil over the interests of Iowa farmers.”
In his subsequent remarks, Grassley said, “It would be ridiculous for the president to go down this path when he pays a visit to the state that produces the most biofuel in the country.”