Washington, D.C. – Today the Obama Administration released the Federal Notice of Proposed Rulemaking to implement a 54.5 miles per gallon by 2025 standard for passenger vehicles. This notice solidifies an agreement between federal and state agencies to implement a standard that combines both the EPA’s greenhouse gas emissions standard and NHTSA’s fuel economy standard for cars, SUVs, and light trucks.

The Obama Administration seized the opportunity to dramatically influence U.S. oil consumption and its effect on the average American by setting higher fuel economy standards for cars and trucks.

“The new standards could not be coming at a better time for consumers. This year, consumers are on track to spend a record $2,900 on gasoline per household. The average American family simply cannot afford to keep throwing good money after bad fueling up gasguzzlers,” said Dr. Mark Cooper, CFA’s Director of Research.

“Once fully implemented, the new 54.5 MPG standard will save households $6,000 per car over the vehicle’s lifetime, while spurring automotive innovation that will create better choices for consumers. Americans love their cars, and they’ll love them even more when they go farther on a tank of gas,” Cooper added.

“Our analysis shows that the higher standards for 2025 will save consumers money, increase auto sales and auto industry employment, enhance national security by dramatically lowering oil imports and reducing pollution, the announcement today marks the Obama administrations commitment to achieving these goals,” said Jack Gillis, CFA’s Director of Public Affairs and author of The Car Book.