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How much will expanded use of E15 gasoline lower prices?

Drivers could save a few pennies per gallon at the pump
Gas, gas pump, fuel
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WEST PALM BEACH, Fla. — Gas prices are still hovering around $4 a gallon, but the Biden administration hopes temporarily allowing an ethanol blend to be sold during the summer will help to lower costs.

So, will Tuesday's E15 announcement be a game-changer for drivers?

At a gas pump along Belvedere Road in West Palm Beach, WPTV found a driver who is spending a lot of money on gas.

"A week, almost $200, but I've been working seven days a week," said Nelson Picon of Miami.

Nelson Picon, South Florida driver
South Florida driver Nelson Picon discusses how much he spends on gas each week.

Picon works in West Palm Beach, so he said any cheaper gas is something he would support.

"Absolutely, yes. It's cheaper now. I'm doing $40, $50 round trip," Picon said.

Most gas these days consists of 10% ethanol, but E15 is 15% ethanol and costs less.

David Holt with the Consumer Energy Alliance isn't convinced that temporarily allowing E15 to be sold during the summer will significantly lower gas prices.

Sofia Johan, Florida Atlantic University
Sofia Johan discusses the impact of E15 on the price of gas in the U.S.

Others like finance professor Sofia Johan of Florida Atlantic University believe anything will help the high costs of fuel.

"Five cents, if you are especially in Florida, if you are commuting or using up gallons and tens of gallons of gas on a daily basis, five cents adds up," Johan said.

Any savings at the pump though comes with a price for the environment.

The E15 gas will increase emissions and not every driver is sold on putting it in their tank.

If your vehicle is a 2001 model or newer, the E15 blend of fuel should be fine to use, but check your owner's manual or ask your mechanic.

The Department of Energy said don't use it in motorcycles, boats or equipment like lawnmowers.