WASHINGTON, D.C. — Today, Growth Energy released a study conducted by ABF Economics that found that nationwide access to E15, a 15 percent ethanol blended fuel, could save drivers billions in annual fuel costs, create new jobs, and return billions to the U.S. economy. Specifically, the data show that a nationwide transition to E15 would:
- Save consumers $20.6 billion in annual fuel costs,
- Put an additional $36.3 billion in income into the pockets of American households,
- Support an additional 188,000 jobs,
- And generate $66.3 billion for the U.S. GDP.
“The price of gas remains top of mind for American families who don’t want to lose access to a low-carbon, low-cost choice at the pump,” said Growth Energy CEO Emily Skor. “Over the summer, E15 saved drivers up to nearly a dollar per gallon at the pump in some areas, with savings averaging to $0.16 per gallon across the country. Today’s study shows that expanded, year-round access of this higher biofuel blend can provide a much-needed boost to the farm economy and even greater savings to American families.”
The release of today’s study follows months of record-high gas prices across the country and President Joe Biden’s emergency waiver to allow the sale of E15 for the 2022 summer driving season to address those prices. Thanks to the availability of E15, drivers found savings of up to nearly a dollar per gallon at the pump by filling up with this higher blend of biofuel.
E15 is currently sold at over 2,700 stations across 31 states, and drivers have chosen the biofuel blend to fuel 35 billion miles total. E15 is approved for cars 2001 and newer — more than 96 percent of cars on the road.
ABF Economics examined the consumer savings and economic implications of expanding E15 use to a year-round nationwide basis consistent with President’s announcement on sale of E15 and EPA’s subsequent series of emergency vapor pressure waivers. The report leveraged June 2021 economic impact research using updated summer retail sales data from OPIS across 29 states (May-August 2022). According to OPIS data, the average price of E15 over the May through August (post EPA Waiver) period was 16 cents per gallon below that of regular unleaded (E10) gasoline. These savings were then applied to EIA annualized gasoline consumption data below to calculate savings to consumers and associated economic impact.