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Consumers Save $142 a Year on Coasts, $241 in Midwest, As Ethanol Production Extends U.S. Fuel Supply and Holds Down Gas Prices
Consumers Save $142 a Year on Coasts, $241 in Midwest, As Ethanol Production Extends U.S. Fuel Supply and Holds Down Gas Prices
OMAHA, Neb., May 8 /PRNewswire-USNewswire/ -- With gas prices in some cities nearing $4 a gallon, new research has confirmed that ethanol is saving U.S. drivers money. On the coasts, where gas prices are especially high, drivers are saving an average of $142 a year on regular unleaded. In the Midwest, they are saving $241 a year.
Researchers at Iowa State University (http://www.foodandfuelamerica.com/2008/04/new-report-shows-ethanol-saves-up-to-40.html) recently studied ethanol's impact on gasoline prices around the country and concluded that, by expanding the fuel supply, ethanol has made gas cheaper by 29 cents a gallon to as much as 40 cents a gallon.
The researchers found that on the coasts, drivers save an average of 23 cents per gallon. The savings are significant in other parts of the country, too: On the Gulf Coast, it is 25 cents per gallon; in the Rocky Mountain States, 17 cents; and in the Midwest, where U.S. ethanol production is concentrated, drivers save 40 cents a gallon.
Renewable Fuels Now considered Federal Highway Administration figures on vehicle fuel efficiency and average miles driven per year to extrapolate these average yearly savings thanks to ethanol:
-- East Coast: $142.42
-- Midwest: $241.44
-- Gulf Coast: $150.36
-- Rocky Mountains: $104.52
-- West Coast: $142.42
For a detailed chart showing average annual savings for drivers of different vehicle types in every region, go to www.renewablefuelsnow.org.
For a copy of the Iowa State University report, see www.card.iastate.edu/publications/synopsis.aspx?id=1076.
About Renewable Fuels Now
Renewable Fuels Now is a coalition representing the ethanol, biodiesel, agriculture and other industries that support increased use of homegrown renewable fuels as part of a balanced energy policy for America. To learn more, visit www.renewablefuelsnow.org.
Additional Web resources:
Renewable Fuels Now: www.renewablefuelsnow.org
Ethanol Information: www.drivingethanol.org
Ethanol Fact Sheet: www.drivingethanol.org/ethanol_in_vehicles/using_fact_sheet.aspx
SOURCE Renewable Fuels Now
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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