Hiked Fuel Economy Regulations Expected To Raise Car Prices
Get ready for expensive cars made from pipe cleaners and tape
The Obama administration finalized new fuel economy rules Tuesday that within 12 years will almost double today's standard for cars and light trucks to 54.5 miles per gallon.
The rules, which have been in the works for several years, will add thousands of dollars to the cost of new cars. But in the long run, regulators say, drivers will spend less on gas, outweighing the additional cost at the dealership. They say the rules will also help reduce the nation's oil imports from OPEC by about half.