The group has claimed that Renewable Fuel Standard (RFS) and its requirements could result in 300% increase in diesel costs and 30% rise in gasoline prices by 2015, citing a study by NERA Economic Consulting.
API downstream group director Bob Greco said that the waiver request has been made in an effort to protect consumers and the US economy.
"While a waiver for 2014 will provide short-term relief from the RFS mandate, the program is outdated and needs to be repealed once and for all," Greco added.
"Under the current RFS regime, ethanol requirements will continue to increase while gasoline demand continues to decline. That’s why we need a full repeal by Congress."
The group has urged that higher ethanol requirements would result in reduced domestic fuel supply, increase in costs, and severe harm to the national economy.
