A new Energy Information Administration report clearly shows higher ethanol blends helped moderate fuel prices after the Ukraine invasion. The report also says the ethanol blend rates hit a record summer average of 10.5 percent.
“Fuel ethanol’s price discount to gasoline was one factor that led to the higher summer blend rate in 2022,” the report says. “Although ethanol prices were higher in 2022, they were still low relative to gas prices that were at the highest level since 2014.
“The new analysis shows that American drivers gravitated toward lower-cost E15 and E85 this summer as war in Ukraine drove fuel prices to record highs,” says Renewable Fuels Association President and CEO Geoff Cooper. “The report also shows that President Biden made the right call by issuing emergency waivers to allow the continued sales of E15 through the summer.”
RFA also says the report shows the importance of year-round access to E15.
Source: NAFB News Service.
