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:
“After all, it is putting a very high price on one’s conjectures to have a man roasted alive because of them.”
—Michel de Montaigne (1533–1592)
“Money won is twice as sweet as money earned.”
—Richard Price (b. 1949)
“The price on the wanted
poster was a-going down, outlaw alias copped my stance
and moody greenhorns were making me dance; while my mouth’s
shooting iron got its chambers jammed.”
—Ishmael Reed (b. 1938)