News and Analysis

Biden To Announce Major Move On Gasoline In Bid To Slash Prices
ELYSBURG, PENNSYLVANIA, UNITED STATES - 2022/03/08: A satirical sticker of US President Joe Biden is placed on a gas pump at a Turkey Hill station. AAA reported the national average price for a gallon of gas in the United States was a record high of $4.173. (Photo by
Paul Weaver/SOPA Images/LightRocket via Getty Images

President Biden is expected to announce on Tuesday a new move to make cheaper gas available to Americans.

Under the move, the Environmental Protection Agency (EPA) will allow gasoline with a 15% ethanol blend — called E15 — to be sold in the U.S. Most gas now is E10.

“The EPA is set to issue a national, emergency waiver,” Fox News reported. “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,” the White House said in a statement. “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.”

Four times in the statement, the White House uses the phrase “Putin’s price hike.” But when Biden took office, a gallon of regular gasoline averaged $2.33, according to AAA. Today, it’s $4.10, up 43% from a year ago. For the record, Russian President Vladimir Putin invaded Ukraine on February 24, and the average price per gallon on February 21 was $3.53, according to a federal agency.

That means a gallon of gas had already risen by $1.20, or 51%.

In its statement, the White House also announced a plan to expand the use of canola oil as a 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,” the White House said.

“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.”

Meanwhile, the consumer price index (CPI), which measures what Americans pay for everyday items such as food and gas, soared to the highest level in 41 years. The CPI leaped 8.5% from a year ago, according to Labor Department data released Tuesday. Taking out food and energy, the CPI still increased by 6.5%.

The soaring inflation has not been seen since the late 1970s, when Jimmy Carter was president, and the early ’80s, after Ronald Reagan took over.

Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent, and ran the Drudge Report from 2010 to 2015. Send tips to [email protected] and follow him on Twitter @josephcurl.

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The Daily Wire   >  Read   >  Biden To Announce Major Move On Gasoline In Bid To Slash Prices