The U. S. Environmental Protection Agency (EPA) and the U. S. Department of Transportation (DOT) has disclosed new fuel economy labels, which are designed to help consumers to take the advantage of increased efficiency standards. These greater efficiency standards are developed under the Obama Administration. These new labels are expected to improve the fuel economy of cars and trucks built between 2012-1016 and save an average of $3,000 in fuel costs.

The new labels are likely to attract customers towards eco-friendly, gasoline powered, plug-in hybrids and electric vehicles. It will reduce the consumption of oil and will also help in managing the economy.

EPA Regional Administrator, Jared Blumenfeld said, “Smart energy policy, advanced engineering, and technology are working together to move the auto industry forward”. These labels will give complete information to the consumers when purchasing a new vehicle.

Roland Hwang, Transportation Program Director at the National Resources Defense Council said these labels will definitely bring improvements if not perfection.

These labels will provide broader fuel efficiency information, including estimated annual fuel costs, savings, as well as information on each vehicle’s environmental impact. The announcement was made today at electric car maker Tesla‘s headquarters in Palo Alto, California.