EPA Plan Could Increase Gas Prices
The Obama administration is unveiling a plan to clean up gasoline and automobile emissions. Officials say it will result in cleaner air across the U.S. and higher prices at the pump.
The Environmental Protection Agency estimates the new rule will reduce sulfur in gasoline and tighten automobile emission standards beginning in 2017. They say it will increase gas prices by less than a penny per gallon and add $130 to the cost of a vehicle in 2025.
But the agency says it will yield billions of dollars in health benefits by slashing smog- and soot-forming pollution.
The oil industry, Republicans and some Democrats wanted EPA to delay the rule, citing higher costs. An oil industry study says it could increase gasoline prices by 6 to 9 cents a gallon.
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