Ethanol’s Discount to Gasoline Expands on Citgo Refinery Fire
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Ethanol’s discount to gasoline expanded as the motor fuel surged on concern a refinery fire will curtail supply and as the corn harvest enables companies to boost output of the grain-based additive.
The spread increased 1.23 cents to 76.36 cents a gallon, a day after an Energy Information Administration report showed ethanol output jumped last week to the highest level in 16 months. Gasoline climbed as Citgo Petroleum Corp. had a fire at its Lemont, Illinois, plant.