No relief at the pump from Brazil's ethanol blend cut: analyst

In Brazil, an analyst for Bloomberg in New York says that lowering the country’s ethanol blend to 20% from a current 25% won’t lower gasoline prices at the pump despite ethanol prices having risen 27% since June. Cutting the blend rate will only lower consumption by a bit more than 6% annually which isn’t enough to have much effect on the demand rates that would force ethanol prices lower.