Image by Melody Kramer/<a href="http://www.flickr.com/photos/mjkmjk/1849177868/">Flickr</a>
The Obama Administration’s fuel efficiency standards will nearly double fuel economy to 54.5 miles per gallon by 2025. Environmental Defense Fund economist Beia Spiller crunched the numbers, and it turns out that if the standards were enforced today, every automobile driving citizen would spend a staggering 55% less on gas.
“The calculations I did assumed a total of 11,218 miles driven per year, current average efficiency of 20.98 miles per gallon, and gasoline prices at $3.50,” Beia explained. “If today’s fleet efficiency was at 54.5mpg (and driving patterns only change due to a rebound effect), then the average driver would save $1,035 per year on the cost of gas.”
2025 can’t come soon enough!
Beia’s numbers first appeared earlier this week in a quiz on the NPR show “Marketplace.”