The Biden administration says the move will save drivers an average of 10 cents per gallon at 2,300 gas stations.
President Joe Biden boards Air Force One in Andrews Air Force Base, Md., Tuesday, April 12, 2022, en route to Menlo, Iowa. WASHINGTON — With inflation at a 40-year high, President Joe Biden headed to corn-rich Iowa on Tuesday with a modest step aiming to trim gasoline prices by about a dime a gallon by waiving rules limiting ethanol blending.
Most gasoline sold in the U.S. is blended with 10% ethanol, a biofuel that is currently cheaper than gas. Biden was announcing that the Environmental Protection Agency will issue an emergency waiver to allow widespread sale of a 15% ethanol blend that is usually prohibited between June 1 and Sept. 15 because of concerns that it adds to smog in high temperatures.
Biden was announcing the move at a biofuel company in Menlo, west of Des Moines. Iowa is the country’s largest producer of corn, key to producing ethanol. The trip will be Biden’s first as president to Iowa, where his 2020 presidential campaign limped to a fourth-place finish in the state’s caucus. He will arrive saddled with sagging approval ratings and the high inflation while his party faces the prospect of big midterm election losses that could cost it control of Congress.
Iowa Republican Party Chairman Jeff Kauffman was unsparing in his criticism of Biden’s handling of the economy and inflation. But, he said, the temporary move on ethanol was the right one. Manchin, whose opposition doomed Biden’s 10-year, roughly $2 trillion measure in December, had recently returned to the negotiating table with the White House. It remains unclear what impact the new inflation data will have on those negotiations.The EPA has lifted seasonal restrictions on E15 in the past, including after Hurricane Harvey in 2017. The Trump administration did so in the summer two years later but had that action struck down by a federal appeals court.
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