Why Gas Prices Could Keep ClimbingAlex Halperin
As if prices at the gas pump aren't high enough. Come May, they could climb even higher as many refiners increase their use of ethanol in gasoline to help it burn more cleanly and thus, cut down on pollutants. Ethanol prices have been rising all year. According to Platts, the New York Harbor spot price for ethanol is about $2.60 per gallon, up from about $2.30 at the beginning of the year, while methyl tertiary-butyl ether (MTBE), the gasoline additive that ethanol will replace because of its pollutant qualities, is $1.60, down from $1.91 in January.
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