Biden waiving ethanol rule in bid to lower gasoline prices

  • President Joe Biden and Rep. Cindy Axne, D-Iowa, listen as Jack Mitchell, regional vice president of POET Bioprocessing, gives a tour at POET Bioprocessing in Menlo, Iowa, Tuesday, April 12, 2022. (AP Photo/Carolyn Kaster)

  • President Joe Biden speaks at POET Bioprocessing in Menlo, Iowa, Tuesday, April 12, 2022. (AP Photo/Carolyn Kaster)

MENLO, Iowa — With inflation at a 40-year high, President Joe Biden journeyed to corn-rich Iowa on Tuesday to announce a modest step aimed at trimming gasoline prices by about a dime a gallon at a limited number of stations by waiving rules that restrict ethanol blending.