Ethanol’s Discount to Gasoline Widens as Production Rates Climb
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Ethanol’s discount to gasoline widened after a government report showed production of the biofuel climbed to the highest level in 10 months.
The price difference, or spread, expanded 0.13 cent to 26.16 cents a gallon on Energy Information Administration data showing ethanol production last week was the most since June 29. Gasoline surged after the Labor Department said applications for unemployment benefits fell to the least in five years last week. Corn-based Renewable Identification Numbers declined.