Petrobras lowers gas prices for second time in a month

In Brazil, for the second time in less than a month, Petrobras as lowered the gasoline price that is turn further pressures ethanol demand and pushes the ethanol parity level with sugar well below 13 cents. Despite hydrous ethanol prices being 68% of gasoline prices during the week ending June 10, the lowest since September last year, falling gas prices see drivers still choosing fossil fuels over ethanol. Hydrous prices have fallen 6% since the sugarcane crush started in April and by 3% during the past month.