18 September 2012 16:05 [Source: ICIS news]
HOUSTON (ICIS)--Brazil's ethanol prices fell in the second week of September as drivers avoided the biofuel as a result of higher prices in the past few weeks, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol prices at Brazilian reais (R) 1.2115/litre ($2.26/gal, €0.45/litre) in the week that ended on 14 September, down by 2.7% from R1.2448/litre a week earlier.
Hydrous ethanol was assessed at R1.0767/litre, down by 0.8% from R1.0849/litre in the previous week, the research group said.
Brazil uses hydrous ethanol as a standalone fuel in flexible-fuel vehicles (FFVs), while anhydrous ethanol is blended in gasoline at a mandated 20%.
CEPEA prices are ex-tank and do not include taxes.
($1 = R2.03)
($1 = €0.76)
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