US will save $440M on Memorial Day weekend due to ethanol, says RFA

In Washington, the Renewable Fuels Association estimated that the average American family traveling this Memorial Day will save more than $31 simply due to the fact that ethanol is holding gasoline prices down. According to the RFA, aggregate gasoline savings due to ethanol this weekend will be $440 million, based on AAA’s estimates that 31 million Americans will take to the roads this weekend, racking up an average 792 miles per trip. The RFA cited a recent Center for Agricultural and Rural Development (CARD) study by economists at Iowa State University and the University of Wisconsin found that increased ethanol use kept wholesale gasoline prices $0.89/gallon lower than they would have been otherwise in 2010.