Ethanol prices have risen steadily this year, boosted by a Biden administration mandate to blend more of the biofuel into gasoline and some of the highest U.S. consumer inflation in decades.
The price of ethanol, the corn-based fuel that is a common gasoline additive, has risen 14% so far this quarter, outpacing crude oil. The thinly traded Chicago Ethanol Platts futures contract, the industry benchmark, settled Thursday at $2.81 a gallon. In late November, it reached a record of $3.45.
