The Trump administration Friday announced approval of year-round access to gasoline with higher blends of ethanol, a move that could boost corn prices for farmers and lower costs for drivers.

The decision is welcome news for farm groups that have pushed for expanded consumer access to gasoline with 15% ethanol — called E15 — saying it's needed to drive demand for the renewable fuel and corn, typically used to make ethanol.

The administration had until June 1 to approve the rule to open the door for E15 use this summer.

“This is positive news for rural Iowa at a time when we can really use it," said Monte Shaw, executive director of the Iowa Renewable Fuels Association.

"E15 will provide an immediate boost for ethanol demand, and the long-term potential is quite significant," he said.

The higher ethanol blend had been banned in the summer, a rule that the ethanol industry said was outdated. Gasoline with 10% ethanol is now blended in almost every U.S. gallon of gas.

Year-round access to E15 could add demand for 100 to 200 million bushels of corn in the short-run, and up to 2 billion bushels over time, experts say.

Poet, a South Dakota company with seven Iowa plants, said E15 adoption could drive the production of 7 billion gallons of biofuels.

"It will be a boon to the rural economy in Iowa, especially considering continued trade uncertainty," said U.S. Sen. Chuck Grassley, an Iowa Republican. "Banning this higher blend of ethanol for part of the year never made any sense."

The Trump administration's ongoing trade wars with China, Mexico, Canada and other countries have disrupted important markets for Iowa and U.S. corn, soybeans, pork and dairy, among other farm goods.

The president said last week the federal government will spend $16 billion in a second round of trade aid to help offset loses farmers experienced from trade disputes. It comes on top of $12 billion in trade aid provided last year.

Nick Bowdish, CEO of Elite Octane in Atlantic, said last week that farmers need the added demand for their crops.

"The financial duress that the farm sector is under is severe," said Bowdish, whose 150-million gallon plant was set to hold an event Friday marking its opening last year.

Among the dignitaries: Gov. Kim Reynolds, U.S. Sen. Joni Ernst and Jim Gulliford, administrator for EPA Region 7, which includes Iowa.

"A lot of farmers in the Midwest want to support the president, are happy to see him take up these big issues like trade with China," Bowdish said. "But these family farmers don't want to be put out of business and lose their livelihoods."

U.S. farm income is expected to be $69 billion this year, about 44% lower than a 2013 high.

Curt Mether, president of Iowa Corn Growers Association board, said the group has pushed for year-round access to E15 for a long time.

“The summer driving season is here and having access to E15 during this time is a step in the right direction for Iowa corn farmers and drivers,” Mether said in a statement.

Iowa leads the nation in corn, pork and egg production, along with ethanol and biodiesel. It's a leading producer of soybeans and beef.

The Environmental Protection Agency said the final rule on E15 follows through on Trump's "commitment to responsible environmental protection that promotes energy independence, regulatory reform and increasing the use of biofuels to give consumers more choices, while supporting American farmers."

The decision received bipartisan support from Iowa's congressional delegation, which raised concerns about waivers that EPA has provided to oil companies to avoid blending ethanol.

"EPA must act to curb the excessive use of small refinery exemptions for some of the largest, most profitable oil companies," said U.S. Rep. Dave Loebsack, an Iowa Democrat.

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The ethanol industry says the exemptions, historically granted only to small, financially distressed oil companies, have been awarded to companies that included giants such as Exxon Mobile and Chevron Corp.

The waivers have destroyed demand for about 2.6 billion gallons of ethanol, which would require about 1 billion bushels of corn to produce, experts say.

"I thought we had moved beyond EPA handing out these waivers like candy, but it appears they're continuing to do so," Ernst said, adding the she would push the administration to be "more transparent" on granting waivers.

If the exemptions "are not used for their congressionally intended purpose," Loebsack said, "it will undermine all the work done to build and strengthen" the Renewable Fuel Standard, a federal mandate to blend ethanol, biodiesel and other biofuels into the fuel supply.

Ethanol advocates also have worried about possible changes in trading biofuels credits — called renewable identification numbers or RINs.

On Friday, EPA said it will require to "increase transparency and deter price manipulation in the RIN market."

"These new reforms will also help EPA continue to gather the information needed to decide whether further action is needed to ensure stability in the RIN market," the agency said.

Some of the worst proposed RIN changes are on hold, ethanol advocates say.

“We urge President Trump to ensure those proposals remain, as President Reagan would say, on the ash heap of history, and that they not be resurrected in the future,” Shaw said.

Trump visited Iowa in October, touting his support for the Renewable Fuel Standard.

He had just directed EPA to begin rule-making that allowed for year-round E15 sales. "I made that promise to you during the campaign. I made that promise to you during the primary," Trump said. "Promises made; promises kept."