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Automakers agree to 54 mpg standard by '25

WASHINGTON -- President Barack Obama and automakers agreed on standards for the largest cut in fuel consumption since the 1970s on Friday with a deal that will save drivers money at the pump and dramatically cut heat-trapping gases coming from tailpipes.

The agreement, to double overall fuel economy to 54.5 mpg by 2025, bringing even greater under-the-hood changes to the nation's automobiles, takes effect on U.S. vehicles in model year 2017. Cars and trucks on the road today average 27 mpg.

Hitting the 54.5 mpg target would reduce U.S. oil consumption from vehicles by 40 percent and halve the amount of greenhouse gas pollution coming out of tailpipes. It builds on a 2009 deal between the Obama administration and automakers that committed cars and trucks to averaging 35.5 mpg by model year 2016. The changes also are likely to push up the cost of a new vehicle, but just how much is unclear. ---- AP

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