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Fighting in the Middle East and the war in Ukraine is bringing instability in the oil market heading into summer. The Environmental Protection Agency, (EPA), took action to make a more affordable gasoline blend available. The EPA issued an emergency fuel waiver on April 19 to allow the sale of E15 gasoline this summer. Typically, […]
(Bloomberg) -- The Biden administration granted a fuel policy change designed to boost sales of corn-based ethanol — but delayed the shift until next year amid concerns a too-rapid transition could spur gasoline price spikes this summer.Most Read from BloombergNvidia Rises Most in About Nine Months as AI Drives SalesT-Bills Without Tax Bills? This Fund Says It Cracked the CodeNasdaq 100 Climbs 3% as Big Tech Roars on AI Bets: Markets WrapBiden Touts $1.2 Billion in Student Loan Relief With Eye t
The White House will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol, but will push the start date into next year, two sources familiar with discussions said. The decision will likely be bittersweet for the biofuel industry, which wants to expand sales of corn-based ethanol but might be frustrated by the 2025 start date. The one-year delay could put off any potential localized price spikes and supply issues that the oil industry says could arise from the decision until after the U.S. election, the sources said.
(Bloomberg) -- Florida Governor Ron DeSantis affirmed his commitment to year-round sales of E15 gasoline, saying drivers should have access to such higher-ethanol blends at the pump, in a last-minute attempt to reach Iowa farmers days before the caucus.Most Read from BloombergGoogle Lays Off Hundreds in Hardware, Assistant, EngineeringSEC Authorizes Bitcoin-Spot ETFs in Crypto’s BreakthroughThese Are the World’s Most Powerful Passports in 2024US Inflation Picks Up, Signaling Bumpy Path for FedWh
Gas prices are still hovering around $4 a gallon, but the Biden administration hopes temporarily allowing an ethanol blend to be sold during the summer will help to lower costs.