Mercedes claims that they got a new fuel from Petronas, which means that it's going to be easier to run faster while spending less fuel. This could be a huge huge advantage for them because most teams take care of their fuel so it doesn't end before the race ends, if you could run full speed all race without caring about fuel that would be insane benefit.
I am not sensing it would be that big of a difference, but even just a big, even 0.1 per lap is a huge thing in F1 as we all know. Three is like 5km top speed difference as dominating others, so 0.1 second faster would mean big help. All three at the top doing their best to be fair, that's just good for us viewers.
Much has been said about the performance of engines from F1's four main fuel suppliers in early 2022.
Power decreased significantly with the entry of the E10, in which F1 engines are obligatorily fueled with a mixture of 90% fossil fuel (gasoline) and 10% biofuel (ethanol).
In fact, the E10 is not a technological novelty if we think that it is already used in several countries in street cars, including Europe. But for F1 it is a considerable change, considering that previously it was necessary to comply with up to 5.75% of biocomponents in gasoline (E5).
F1 is and always will be a testing ground for the motorsport world, teams and their suppliers face new challenges every year, learning from mistakes and developing new technologies for the following season.