A new study shows that American motorists could save some big cash over the life of their vehicles if EPA keeps its 2025 fuel economy targets.
Owners of new cars and trucks will save significantly when buying a vehicle that complies with the government’s 2025 fuel economy standards, relative to current targets, according to a study made by Consumers Union. The organization estimates that US drivers will save 3,000 dollars per car and 4,200 dollars for a truck, based evidently on the most important factor of net savings: gasoline prices. Therefore, this study relied on the Energy Information Administration’s Annual Energy Outlook developed in 2015 that shows the reference fuel price starting at around 3.00 dollars per gallon in 2025, while the “high” case starts at about 4.50 dollars per gallon. As higher gas prices lead to bigger net saving, 4.50 to 5.75 dollar a gallon would mean the expenses over the life of a vehicle will be further trimmed, by 5,600 to 7,300 dollars.
However, there are also technological costs for the automakers to hit those fuel-efficiency targets, and the estimated savings are according to those costs. The Consumers Union study offers “compliance” expenses estimates from the US Environmental Protection Agency of 1,816 dollars per passenger car and 2,167 dollars per light truck, and from the National Highway Traffic Safety Administration of 1,659 dollars per car and 1,094 dollars per light truck. The 2025 fuel-economy standards for cars and trucks are 52.9 mpg for cars and 39 mpg for light trucks, but the figures may be revised in 2018.