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

FOR IMMEDIATE RELEASE

May 28, 2008

Ethanol Saves Iowa Families $9.5 to 12.5 Million During April

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 $9.5 million and $12.5 million during the month of April by choosing E10 (10 percent ethanol blend) 76 percent of the time over 100 percent petroleum gasoline.  According to the Iowa Department of Revenue, Iowans purchased nearly 96 million gallons of E10 in April. E10 was typically 10 to 13 cents per gallon less expensive than gasoline during the month.

“During this period of ever escalating gasoline prices, ethanol blends are the family budget’s best friend,” said Monte Shaw, IRFA Executive Director.  “Despite the false fear mongering of Big Oil, Iowans can see the direct savings ethanol provides every time they fill up at the pump.  While the oil industry is cutting back on refining, the ethanol industry is doing all it can to expand production and reduce gasoline prices for consumers.”

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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