WASHINGTON — The increased use of ethanol reduced wholesale gasoline prices by an average of 89 cents per gallon in 2010, according to a new study conducted by economists at Iowa State University and the University of Wisconsin, released by the Center for Agricultural and Rural Development (CARD) and sponsored bu the Renewable Fuel Association.
The new analysis, an update to a 2009 Energy Policy paper authored by professors Dermot Hayes and Xiaodong Du, also found that the growth in ethanol production reduced gasoline prices by an average of 25 cents, or 16 percent, over the entire decade of 2000-2010. . .
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