Mandate ups mpg rule

President Obama’s administration announced new fuel-efficiency standards that will increase fuel economy for cars and light-duty trucks to 54.5 mpg by model-year 2025.

The move will nearly double the fuel-efficiency requirements of today’s new vehicles, reduce U.S. oil consumption by 12 billion barrels, and save consumers $1.7 trillion at the gas pump, according to a White House press release.

Additionally, the new standards will save car owners an average of $8,000 over the life of a vehicle, and cut greenhouse-gas emissions by 6 billion metric tons, more than the total amount emitted by the United States in 2010. Opponents of the standards argue the goal is unreasonable and will raise vehicle prices by $2,000 or more.

“These fuel standards represent the single most important step we’ve ever taken to reduce our dependence on foreign oil,” President Obama said in a prepared statement.