Brazilian hydrous ethanol slides to eight-year low against gasoline

In Brazil, Platts reports that with hydrous ethanol at eight-year lows and drivers scrambling to drive on the cheaper fuel, gasoline surplus is being re-exported in tankers typically used for ethanol. One tanker was seen headed to the Gulf Coast of the US and potentially to West Africa afterwards. When ethanol is 70% of the price of gasoline or lower, drivers switch to ethanol because it’s more economically viable. As of the week ending August 4, ethanol was 58.4% the price of gasoline.