Tuesday, August 28, 2012

Obama: Cars Must Average 54.5 MPG By 2025

Posted By on Tue, Aug 28, 2012 at 3:36 PM

The Obama administration finalized new regulations on Tuesday, which would double the fuel efficiency of cars and trucks by 2025.

The new standard would require cars and trucks to average 54.5 mpg within 13 years, a marked increase from 28.6 mpg last year.

"These fuel standards represent the single-most-important step we’ve ever taken to reduce our dependence on foreign oil," said President Barack Obama in a statement. "It’ll strengthen our nation's energy security, it's good for middle-class families, and it will help create an economy built to last."

According to the administration, the regulations will save families more than $1.7 trillion in fuel expenditures and save $8,000 over a lifetime for vehicles bought in 2025.

The U.S. Environmental Protection Agency estimated that the new regulations could reduce oil consumption by 2 million barrels a day.

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