Today, the Environmental Protection Agency released the formal proposal (pdf) to raise fuel economy standards to 54 mpg by 2025.

Details of the standards had already been released in a press conference in July. The standards represent a 5-percent annual increase from 35.5 mpg set for 2016 and a near doubling of fuel efficiency from 2008.

The move has been criticized by some groups and businesses, but the initiative has the support of automakers, environmentalists, and consumer advocates, including Consumer Reports. The Obama Administration estimates it will save 2.2 million barrels of oil per day by 2025 and save consumers $1.7 trillion at the pump.

Following the final Notice of Proposed Rulemaking released today, the public will have 60 days to comment on the proposal.

Related:
Guide to fuel economy
Survey: Car owners want better fuel-economy, support increased standards