The White House unveiled plans Tuesday to extend the availability of higher biofuels-blended gasoline over the summer to curb soaring fuel costs and to cut reliance on foreign energy sources after the consumer price index data showed inflation at a 41-year high, Your Content has learned.
Senior administration officials said Biden will reveal the plans later today.
The move will allow Americans to keep buying E15 fuel from June 1 until Sept 15.
It aims to lower fuel expenses amid huge price hikes and spiraling inflation.
The average price per gallon in America sits at $4.10 as of Tuesday morning.
Announcement coincides with the release of March’s consumer price index.
The Biden administration is trying to get ahead of more dire inflation news.
Jen Psaki said yesterday that headline inflation would be ‘extremely elevated’
Last month’s report showed the consumer price index (CPI) jumped up to 7.9% in February, the biggest hike in 40 years,‘according to The Daily Mail.