Iowans Saved More Than $23 Million Using E10 in January
February 28, 2014
Press Contact: T.J. Page
Sold at a 23-cent Discount, Gasoline Blends Containing 10 Percent Ethanol Provided Iowans with Huge Savings in January
JOHNSTON, IOWA –The Iowa Renewable Fuels Association (IRFA) announced today that Iowa motorists saved more than $23 million in January alone using gasoline blended with 10 percent ethanol (E10), according to data recently released by the Iowa Department of Revenue.
“Priced at least 23 cents less than its 87-octane no ethanol counterpart, E10 is providing Iowans with huge savings,” stated IRFA Executive Director Monte Shaw. “And those savings add up for both consumers and Iowa’s economy. The use of E10 is keeping at least $23 million in Iowa instead of sending it out of state or out of the country for petroleum. In fact, the true savings is likely more than $30 million for the month. Simply using ethanol is not only saving consumers some of their hard earned money, it’s also cleaning up our air and supporting Iowa jobs.”
Actual savings are even greater than $23 million because the Iowa Department of Revenue data does not account for ethanol blending that occurs outside of pipeline fuel terminals. In addition, while the typical E10 savings in the Des Moines metro area is 23 cents per gallon, E10 is priced at a more than 30-cent discount to E0 in many parts of Iowa.
According to Iowa Department of Revenue figures, Iowans purchased more than 103 million gallons of E10 in January. The Iowa DOR data is available by clicking here.
Iowa is the leader in renewable fuels production. Iowa has 42 ethanol refineries capable of producing over 3.8 billion gallons annually, with three cellulosic ethanol facilities currently under construction. In addition, Iowa has 12 biodiesel facilities with the capacity to produce nearly 315 million gallons annually.
The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s liquid renewable fuels industry. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development.