President Biden is slated to announce a new plan to try and make fuel costs cheaper for the American people.
As part of this new plan, the Environmental Protection Agency (EPA) will now let gasoline containing a blend of 15% ethanol blend, called E15, to be sold within the United States. Currently, the vast majority of gas sold within the country is E10.
“The EPA is set to issue a national, emergency waiver,” stated Fox News in a report. “Without the action, the White House said E15 cannot be used in most of the country from June 1 to September 15. The EPA is expected to take final action to issue the emergency waiver closer to June 1.”
“An emergency waiver can help increase fuel supplies, give consumers more choice to get lower prices, and provide savings to many families,” stated the White House in a release. “At current prices, E15 can save a family 10 cents per gallon of gas on average, and many stores sell E15 at an even greater discount. For working families—families eager to travel and visit their loved ones—that will add up to real savings. Allowing higher levels of blending will also reduce our dependency on foreign fuels as we rely more heavily on home-grown biofuels. This will help us bridge towards real energy independence.”
In four separate instances throughout the statement, officials for the White House make use of the phrase “Putin’s price hike.” However, when Biden took the office, a gallon of standard regular gasoline costed on average $2.33, as reported by AAA. As of writing, though, we see the average sitting at $4.10 which is an almost 43% jump from just one year ago. For context, the invasion of Ukraine by Russian President Vladimir Putin took place on the 24th of February, and at that time the average price per gallon was around $3.53, as reported by a federal agency.
This information shows that a single gallon of gas had already made the insane climb of well over 51% which means $1.20 per gallon.
In these comments, the White House also stated a plan to expand projects to use canola oil as a standard fuel.
“Today, EPA is also announcing efforts to expand supply and choices for other forms of fuel, such as diesel and jet fuel. The Agency is proposing a new approval for canola oil that will add new pathways for fuels to participate in the Renewable Fuel Standard program to provide renewable diesel, jet fuel and other fuels. This action demonstrates EPA’s commitment to approving new petitions for renewable fuels that can provide greenhouse gas benefits as well as reduce reliance on petroleum fuels,” stated White House officials.
“These actions are critical to building real energy independence and protecting Americans from volatile prices by reducing our reliance on fossil fuels. Together, they will create good-paying jobs, support American agriculture and manufacturing, and accelerate the transition to clean energy.”