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As of 2005, E85 is frequently sold for up to 36% lower price per quantity than gasoline. [10] Much of this discount can be attributed to various government subsidies, and, at least in the United States, the elimination of state taxes that typically apply to gasoline and can amount to 47 cents, or more, per gallon of fuel.
As of 2011, blenders received a US$0.45 per gallon tax credit, regardless of feedstock; small producers received an additional US$0.10 on the first 15 million US gallons; and producers of cellulosic ethanol received credits up to US$1.01. Tax credits to promote the production and consumption of biofuels date to the 1970s.
Wholesale ethanol prices drop nearly 30% between January and April, or $1.75 to $1.23 per gallon in the U.S. In 2005 , the earliest-documented test of driving a car designed solely for gasoline use, long-distance solely on 100% butanol fuel occurs as American motorist David Ramey drove from Blacklick, Ohio to San Diego, California using 100% ...
In spite of this, he was optimistic about the future of the program, claiming "it will be back.". In 2009, ethanol was priced at 2 to 3 dollars per gallon, while methanol made from natural gas remains at 47 cents per gallon. Presently there are over 60 operating gas stations in California supplying methanol in their pumps. [citation needed]
Average monthly gas prices are down $1.91 per gallon from their peak in June 2022, according to the newest LendingTree analysis. But average daily gas prices are up by 0.7% year over year as of ...
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The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
He said the plants should get a minimum benefit of 20 cents per gallon of ethanol. But Blank would not offer an estimated price premium that could be passed on to farmers for the corn used to ...