Trump Administration Expands Oil Refinery Exemptions Amid Rising Gas Prices

The US is preparing new relief measures for oil refineries amid rising gasoline prices. The Trump administration plans to expand exemptions for U.S. oil refineries from biofuel blending requirements as early as Monday, according to Reuters, citing two informed sources.

This move aims to curb the sharp rise in gasoline prices, which have increased due to the US conflict with Iran. The EPA is expected to grant small refineries exemptions covering more than 1.8 billion renewable fuel credits, approximately twice as much as previously planned.

The companies that have applied for exemptions include Marathon Petroleum and Chevron. Refiners view easing the requirements as a way to reduce fuel production costs.

Farmers are opposing this move, fearing a drop in demand for corn could lower their income. The EPA is considering offsetting this by revising the 2027 biofuel quotas and adding about 500 million renewable fuel credits.