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The Trump Administration's decision to allow the year-round of gasoline with a higher concentration of ethanol to give more consumers, according to Pacific Ethanol CEO Neil Koehler.
"It's a great day for farmers, ethanol producers, consumers who will have a cheap, clean-burning fuel," Koehler said during an exclusive interview with FOX Business's Liz Claman on Tuesday.
Ethanol is less expensive to produce than gasoline, which can be reduced to some price for some motorists. The average price for a gallon of regular unleaded gasoline is $ 2.91, according to AAA.
Koehler said that it will be possible for the market to buy biodiesel, and consumers will be able to buy E15 at a better price than regular gasoline.
"Ethanol today – and this is really good for the consumer – is 80 cents a gallon cheaper than gasoline," he said.
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Gasoline generally contains about 10 percent ethanol. The Environmental Protection Agency (EPA) allows the use of E15, a blend of 15 percent ethanol and 85 percent gasoline, as part of the Clean Air Act.
E15 is currently banned in summer months due to smog concerns.
The amount of corn used for ethanol production is an estimated 40 percent, leaving much to be desired for a deficiency in animal feed. and human consumption.
"The corn grown in the United States is grown for feeding animals. "Koehler said," We are actually doing it really well and it's really great news for animal feeders as well as consumers of gasoline, "Koehler said.
Pacific Ethanol shares soared 54 percent Monday in anticipation of higher ethanol sales.
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