Ethanol Offers American Drivers Relief at the Pump
(Renewable Fuels Association) …Gas prices have been increasing as well. However, relief at the gas pump is possible thanks to America’s growing use of ethanol.
According to updated research released by the Center for Agricultural and Rural Development and conducted by economics professors at the University of Wisconsin and Iowa State University, ethanol reduced wholesale gasoline prices by an average of $1.09 per gallon in 2011. The results showed increased savings compared to 2010, when the average savings resulting from ethanol blending saved Americans $.0.89 per gallon. [Read RFA’s summary of the report here.
Based on data from the Census Bureau and Energy Information Administration, 116.7 million US households consumed 131.2 billion gallons of gasoline in 2011, for an average of 1,124 gallons per household. That means ethanol reduced the average American household’s spending on gasoline by more than $1,200 in 2011. READ MORE and MORE (Kearney Hub) and MORE (Renewable Fuels Association)
