Trump Administration Moves Up Winter Fuel Sales to Curb Gas Prices Ahead of Midterm Elections

[Financial News] The Donald Trump administration has approved the early termination of summer gasoline requirements and the early sale of winter-blend fuel to curb soaring gasoline prices.
According to the United States Environmental Protection Agency (EPA), the Trump administration decided to end this year's mandatory summer-blend gasoline requirements on the first day of the month local time, about two weeks earlier than scheduled, to increase fuel supplies and lower gasoline prices. The requirements were originally scheduled to end on September 15. However, the EPA will allow sales of gasoline blended with 10% ethanol (E10), which has a higher Reid vapor pressure (RVP), starting on the first day of the month—about two weeks ahead of the normal schedule.
The United States generally switches to summer-blend gasoline through September 15 to reduce air pollution. However, after gasoline prices rose and failed to fall amid the prolonged war with Iran, the government appears to have turned to the early sale of winter fuel as a remedy. Refiners forecast that gasoline prices could decline by $0.10 to $0.30 per gallon if winter gasoline is sold.
Gasoline prices in the United States have continued to rise in the aftermath of the war with Iran. The national average gasoline price last month reached $4.08 per gallon, the highest August level on record since the American Automobile Association (AAA) began tracking prices in 2000. According to AAA data, the national average retail price for regular gasoline stood at $4.10 per gallon as of the first day of the month, up $0.91, or 28.5%, from approximately $3.19 a year earlier.
High gas prices at the pump are proving to be a serious vulnerability for President Donald Trump and the Republican Party as they seek to retain control of Congress in the midterm elections this November.
[email protected] Hong Chae-wan Reporter