Gas Prices Climb as Summer Driving Begins, POET Calls On EPA To Move Quickly For E15 Relief

Year-round E15 sales would save drivers up to 15 cents/gallon

SIOUX FALLS, SD - June 1, 2018: With nationwide gas prices hitting a four-year high above $3 per gallon; POET is calling on the EPA to give summer drivers access to high-octane E15 fuel and save consumers as much as 15 cents per gallon.

E15, a 15 percent biofuel blend, is currently available in 29 states and more than 1,300 U.S. locations. However, most retailers do not offer the low-cost fuel because burdensome rules limit its use and confuse consumers. Out-of-date regulations unnecessarily prohibit E15 for most drivers more than three months of the year.

"Americans expecting a tax break this year could see those dollars eaten up by skyrocketing fuel costs," said Kyle Gilley, POET Sr. Vice President of Communications and External Affairs. "President Trump has committed to fixing the regulatory problem and providing a long-term solution to fluxuating gas prices. We are calling on Administrator Pruitt and the EPA to act quickly to allow year-round sales of E15."

E15 has been proven effective; with more than 4 billion miles driven by U.S. consumers and is approved for all vehicles 2001 or newer. Biofuels are lower cost in part because they are made in the United States by U.S. workers with a feedstock grown on U.S. farms. The biofuels industry supports 400,000 jobs nationwide.

"When drivers fill up with biofuels, they not only save money, they support American jobs, rural communities and national security." Gilley said. "EPA approval of year-round E15 use will have a dramatic impact on our country. It needs to happen now."

About POET

POET, the world's largest biofuels producer, is a leader in biorefining through its efficient, vertically integrated approach to production. The 30-year-old company has a network of 27 production facilities. POET, through its joint venture with DSM, also operates a commercial-scale cellulosic biofuel plant in Emmetsburg, Iowa. For more information, visit http://www.poet.com.