Colorado U.S. Senator Michael Bennet praised the finalization of new fuel efficiency standards that will increase fuel economy to the equivalent of 54.5 mpg for cars and light-duty trucks by Model Year 2025. The standards, which were announced yesterday by the administration, are expected to save consumers more than $1.7 trillion at the gas pump and reduce U.S. oil consumption by 12 billion barrels.
"The cheapest form of energy that we have is the energy that we don't use, energy that we save. This is certainly true for our transportation sector."
Bennet said. "These new standards will both help spur innovation and save Colorado families money every time they go to the pump. Auto manufacturers will also be able to take advantage of incentives for alternative fuel vehicles, including natural gas vehicles, which will help pave the way for even more fuel efficient vehicles in the future."
The new standards build upon the success of requirements for cars and light trucks for Model Years 2011-2016. Those standards, which raised average fuel efficiency by 2016 to the equivalent of 35.5 mpg, are already saving families money at the pump.