NEW YORK (CNNMoney.com) -- The Obama administration on Tuesday is set to propose stricter fuel economy standards in an effort to cut down vehicle greenhouse gas emissions.
The plan will require passenger cars and light trucks to get an overall average of 35.5 miles per gallon by 2016, according to a senior administration official with knowledge of the plan. By that year, cars will be expected to average about 39 mpg and 30 mpg for trucks.
Current fuel economy standards are 27.5 mpg for cars and 23.1 for trucks.
The Obama plan would accelerate by four years new fuel economy standards passed by Congress at the end of 2007.
Fuel economy will be increased gradually beginning in 2012 and run through 2016. The administration predicts the changes will save 1.8 billion barrels of oil by 2016. That's roughly what the country goes through in about 86 days, according to numbers from the Energy Information Administration.
The proposed plan is expected to add about $600 to the cost of a car, the official said. That's on top of $700 added by changes to fuel economy rules that have already been recently enacted, the official said, but consumers should be able to save enough in gas to make up for the cost.