11 April 2006 23:50 [Source: ICIS news]
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RFA representatives and the Energy Information Administration (EIA) said crude oil was the main driver for rising gasoline prices. “With oil prices near $70/bbl and refining capacity still struggling to come back online, it’s clear that those factors have far more to do with consumers paying more at the pump than the increased use of ethanol,” said RFA president Bob Dineen.
EIA administrator Guy Caruso said gasoline prices were likely to rise by 25 cents/gallon this summer (Northern Hemisphere), with 19 cents (76%) of that increase due to high world crude oil prices. According to sources, the EIA projected an average
RFA spokesman Matt Hartwig said more than 85% of ethanol sold in the
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