RFA says hardship waivers led to $2.3 billion in industry losses between February and August

In Washington, the Renewable Fuels Association estimates that demand destruction for ethanol resulting from hardship waivers granted by the Environmental Protection Agency in 2017 led to a loss of $2.3 billion in revenues for the ethanol industry between February and August 2018. RFA analysis shows that following a peak blending rate of 10.8% in January, it fell to as low as 9.5% in April and only once passed 10% through June. This lack of demand cut prices by 8 cents per gallon in February but later grew to 34 cents per gallon in June and through the rest of the summer.