Fuel Economy to Top 30 MPG in 2015

Cars and light trucks will be required to attain an average fuel economy rating of 31.6 miles per gallon by 2015. The new ruling from the National Highway Transportation Administration surpasses the mandates requested by Congress in December.

Fuel economy would increase by 40 percent over the 2008 model year. Under the proposed system, individual car companies would have to meet different requirements based on the split in their sales for light trucks and cars. For example, Chrysler cars would have to get 33.6 mpg while the minimum for trucks would be set at 29.1 mpg.

The new requirements will save consumer $100 billion in fuel during the lifetime of the vehicles, according to NHTSA. Car companies however, would have to pay $47 billion to comply with the requirement.

The proposal has a 60-day review period during which automakers could ask for changes.