Monday, October 4, 2010

White House outlines 62-mpg fuel economy standards for 2017-2025

The Obama Administration today announced that it is working on setting new fuel economy standards for cars that will start in the 2017 model year.

The new standards could rise by as much as 6 percent a year thereafter, reaching 62 mpg by model year 2025.

In a joint press release by the Environmental Protection Agency and the National Highway Traffic Safety Administration, the Administration estimates that a 6 percent-a-year increase in fuel economy standards could save up to 1.3 billion barrels of gasoline, or about 1 percent of a year's total oil consumption at current rates. That would save consumers up to $193 billion in gasoline by 2025.

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