Price
As of 2005, E85 is frequently sold for up to 36% lower price per quantity than gasoline. Much of this discount can be attributed to various government subsidies, and, at least in the United States, the elimination of state taxes that typically apply to gasoline and can amount to 47 cents, or more, per gallon of fuel. The US federal tax exemption that keeps ethanol economically competitive with petroleum fuel products is due to expire in 2007, but this exemption may be extended through legislative action. In the aftermath of Hurricane Katrina in 2005, the price of E85 rose to nearly on par with the cost of 87 octane gasoline in many states in the United States, and was for a short time the only fuel available when gasoline was sold out, but within four weeks of Katrina, the price of E85 had fallen once more to a 20% to 35% lower cost than 87 octane gasoline.
Read more about this topic: E85 In The United States
Famous quotes containing the word price:
“I have asked a lot of my emotions—one hundred and twenty stories. The price was high, right up with Kipling, because there was one little drop of something, not blood, not a tear, not my seed, but me more intimately than these, in every story, it was the extra I had. Now it has gone and I am just like you now.”
—F. Scott Fitzgerald (1896–1940)
“The price of telling your troubles is having to listen to advice.”
—Mason Cooley (b. 1927)
“If you know some other way that I can be honest with you, you gotta tell me.”
—Richard Price (b. 1949)