In an effort to lower sky-rocketing fuel prices in the U.S., the Biden Administration is considering the removal of summer sales restrictions of higher-ethanol gasoline blends. Pump prices hit a record in March as the U.S. and other countries cut off imports of oil from Russia as a consequence of the Ukraine invasion.
Many believe ethanol could be the answer to reducing gas prices because corn is currently cheaper than gasoline. U.S. Senators Chuck Grassley (R-IA) and Dick Durbin (D-IL) penned a letter to President Biden requesting the allowance of E15 over summer months, a restriction previously made on the notion of potential contribution to smog in hot weather – a misconception since debunked.
Read more on the potential for ethanol to lower fuel prices here.
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