The Ukraine-Russia war has sent fuel prices skyrocketing and consumers are feeling the pain at the pump. To mitigate the crisis at hand, President Joe Biden's administration is considering options to make fuel affordable for Americans this summer driving season.
What Happened: The Environmental Protection Agency administration is planning to allow a grade of gasoline called E15 gasoline, which uses a 15% ethanol blend, a press statement from the White House said.
E15 ethanol is normally not allowed between June 1 and Sept. 15, given that the blend is characterized by higher volatility and has the potential to produce more smog at a higher temperature. The release said the president is expected to make an announcement regarding this on Tuesday.
The EPA will likely take a final call on this closer to June 1, the statement said. The federal agency would also work with states to ensure that the use of E15 would not cause any significant air quality impacts through the summer driving season; it is also considering allowing the use of E15 throughout the year.
E15 is now offered at 2,300 gas stations in the country and therefore it can be used as an important, widely available and more important source of fuel.
The proposed plan follows a series of steps the Biden administration has taken in recent weeks to address the higher gas prices. These measures include working with the International Energy Agency and allies for a historic release of petroleum reserves from around the world and thrust given to accelerating the adoption of clean energy.
See Also: 3 Ways Rising Gas Prices Are Impacting The Auto Industry
Why It's Important: Retail gas prices have been on a steady uptrend since mid-2020. From a low of around $1.9 in April 2020, the prices have galloped and are currently seen at around $4.196. With fuel accounting for a major chunk of consumer spending, higher prices have the potential to exert further pressure on consumers.
A similar action taken by former President Donald Trump for the use of E15 during the summer driving season was shot down by a federal appeals court. The court had then said the Trump administration was "overreaching its authority."
Senior Biden administration officials said the present decision is based on a different authority. They also suggested that the EPA will ensure environmental harm due to the shift over, according to the Wall Street Journal.
Related Link: Is Biden To Blame For High Gas Prices? Here's What Oil Execs Say
Photo: Courtesy of The White House via Wikimedia
