FOR MORE INFORMATION:
Monte Shaw, 515-252-6249

FOR IMMEDIATE RELEASE

April 29, 2008

Ethanol Saves Iowa Motorists $9 to 11 Million During March

 E10 Price Was 10-13 Cents per Gallon Less than Petroleum Alternative

JOHNSTON, IA – The Iowa Renewable Fuels Association (IRFA) today announced that Iowa motorists saved between $9 million and $11.6 million during the month of March by choosing E10 (10 percent ethanol blend) 77 percent of the time over 100 percent petroleum gasoline.  According to the Iowa Department of Revenue, Iowans purchased nearly 90 million gallons of E10 in March. E10 was typically 10 to 13 cents per gallon less expensive than gasoline during the month.

“By choosing ethanol in March, Iowans saved over $11 million they were free to spend on the mortgage, school supplies or groceries,” said Monte Shaw, IRFA Executive Director. “In reality, ethanol saved consumers even more than the price differential at the pump. The growing ethanol industry adds supply to the market, without which gasoline would cost even more than it does today. A recent study from Iowa State concluded:  ‘…the largest impact of ethanol on gasoline is found in the Midwest region where gasoline prices were reduced by 39.5 cents per gallon.’”

The complete study can be found on website of Iowa State’s Center for Agricultural and Rural Development (CARD) at:  www.card.iastate.edu.

Iowa is the leader in renewable fuels production.  Iowa has 14 biodiesel refineries with a combined annual capacity of nearly 320 million gallons in operation.  Two biodiesel refineries under construction will add 35 million gallons of capacity.  In addition, Iowa has 29 ethanol refineries with the capacity to produce over 2.2 billion gallons annually.  There are 14 ethanol refineries under construction or expansion that will add nearly 1.5 billion gallons of annual capacity.  Many additional renewable fuels projects are under development.

The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s ethanol and biodiesel producers. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development.

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