The US Transportation Department on September 28 finalized sharply lower vehicle fuel-economy standards, the Trump administration’s latest reversal of Biden-era rules that pushed automakers toward electric vehicles.

The new rule sets a fleetwide average of 34.9 miles per gallon by the 2031 model year, down from 50.4 mpg under the previous standard. Dubbed “Freedom Means Affordable Cars” by the administration, the rollback is pitched as making new vehicles cheaper by about $1,300 on average.

The department’s own estimates tell a more mixed story: compliance costs per vehicle fall by $1,289, but lifetime fuel costs rise by more than $1,600, and US gasoline consumption grows 4.6 percent through 2050. The rule also ends credit trading between automakers in 2028, a key revenue source for EV makers like Tesla.

The rollback lands as the average US gas price hit $4.47 a gallon on September 28, up from $3.13 a year earlier. Environmental groups called it a gift to the oil industry at drivers’ long-term expense.