Car shoppers may feel this one down the road. On Monday the Transportation Department finalized fuel economy standards that ask far less of automakers than the rules written under President Biden. The new target is a fleet average of about 34.9 miles per gallon for cars and light trucks by model year 2031, compared with roughly 50.4 under the old plan.
Transportation Secretary Sean Duffy says the change will make vehicles cheaper, and officials estimate it could trim around $1,300 off a new car's sticker price. Critics see it differently. They argue drivers will spend more on gasoline and that the environment will pay a real cost. The administration has called the earlier rules a backdoor electric vehicle mandate, so this rollback fits its wider retreat from EV incentives. The timing feels awkward, too, since oil prices jumped the same day. Expect plenty of debate over who really saves money.
