EPA waives gas regulations to address surging fuel prices
CNBC • • general
Key Points:
- The Trump administration, through the EPA, temporarily waived summer regulations on gasoline types to ease rising fuel prices amid the Iran war, allowing increased sales of E15 and E10 fuels.
- The waivers, effective from May 1 to May 20, suspend federal enforcement on state fuel requirements, permitting gasoline with 9% to 15% ethanol content to be produced and distributed.
- EPA Administrator Lee Zeldin emphasized that the waivers aim to prevent fuel supply disruptions and provide more fuel options, with the possibility of extension based on ongoing supply monitoring.
- Gasoline prices have surged over 30% to $3.98 per gallon, reaching the highest levels since 2022 due to global energy market disruptions from conflicts in Iran and Ukraine.
- Diesel prices have risen more than 40% to $5.37 per gallon, and Energy Secretary Chris Wright indicated plans are underway to increase diesel supply to the market soon.
