EPA Says Americans Could Save $1 Trillion On Gas Under Its Auto Plan

"Americans could stand to save up to $1.1 trillion on gasoline prices should the Environmental Protection Agency's proposal to impose the toughest-ever auto emissions standards be adopted, the agency projected on Wednesday.

The projection was included in the 758-page report issued by the EPA detailing its proposed regulations, which include tailpipe emissions so stringent that it could lead to 67% of new vehicle sales being electric by 2032.

Such a big shift to electric cars could save Americans between $580 billion and $1.1 trillion on gasoline — even factoring in the extra money drivers would spend on electricity to juice up their vehicles.

The agency forecasts an additional $280 billion to $580 billion in savings on vehicle maintenance."

Camila Domonoske reports for NPR April 12, 2023.

Source: NPR, 04/13/2023