U.S. Fuel Standards To Reach 54.5MPG By 2025

President Obama on Friday announced that a deal has been struck with automakers that will increase fuel mileage to 54.5 miles per gallon for cars, light trucks and SUVs by 2025.

Speaking of the deal Obama said that it’s:

“The single most important step we’ve ever taken as a nation to reduce our dependence on foreign oil.”

The move is expected to save $8,000 per vehicle that would normally go to added fuel costs.

Attending the announcement were the CEOs of the “Big Three Automakers” and several Asian automaker executives.

Aaron Kessler at the Free Press, said the deal:

“Likely will change how drivers shop for, interact with and think about cars and light trucks over the next 10 to 15 years.” while adding that the agreement marks “an extraordinary shift in the relationship between the companies and Washington.”

The deal is seen as a big win for Washington who often had to fight auto manufacturers for stronger vehicle requirements before governmental bailouts helped save those very same company’s from bankruptcy.