While this year’s announcement comes amid high prices due to the war in Iran, the Trump administration also made the same move last year.
This type of gasoline, known as E15 given its ethanol content of up to 15 percent, is typically restricted in the summer because it evaporates easily in the heat, causing air pollution.
The move comes as the average U.S. price of gasoline is about $3.98 per gallon, which is $1 per gallon higher than where it was a month ago because of supply disruptions the conflict has caused.
The Iran war has effectively halted shipping through the Strait of Hormuz, through which about 20 percent of the world’s oil typically flows.
Trump administration officials described the move as part of an effort to bring down prices.
“EPA is working with our federal partners to reduce unnecessary costs and uncertainty and ensure that gas prices remain affordable for all Americans through the summer,” EPA Administrator Lee Zeldin said in a written statement.
Analysts recently told The Hill, however, that the Trump administration’s policy levers for bringing down prices are limited — and the only way to massively cut the price is to reopen the strait.
Read more at TheHill.com.
