Gasoline consumption fell precipitously in the spring due to stay-at-home orders and the economic slowdown, cutting ethanol industry revenue by more than $3.4 billion, said the Renewable Fuels Association on Wednesday.
“The analysis again underscores the need for Congress to act expeditiously to deliver emergency relief to the renewable fuels industry,” Geoff Cooper, the trade group’s president, told Successful Farming.
Ethanol consumption from March through June was 1.3 billion gallons lower than the average consumption during the same period for the past three years, calculated RFA economist Scott Richman.
The amount of corn used for ethanol production was 467 million bushels below average for the period.
