Based on gasoline sales data released today by the Iowa Department of Revenue, the Iowa Renewable Fuels Association (IRFA) said that Iowa motorists could have saved $69 million in 2012 if E15 would have been widely available in Iowa. E15, a blend of 15 percent ethanol and 85 percent gasoline, is approved for use for vehicles manufactured after 2001 or newer.
“$69 million buys a lot of Christmas presents,” said IRFA Executive Director Monte Shaw. “With E15, Iowans can spend less while boosting the Iowa economy. That’s a pretty good deal. IRFA is working with retailers across the state to make E15 access a reality. Until E15 is widely available, Iowans will continue paying more at the pump than they should.”
The potential savings with E15 were calculated using 1,630 million gallons of Iowa gasoline use (extrapolated from Iowa Department of Revenue figures). Roughly 85 percent of the fuel sold goes into vehicles that can legally use E15. Where E15 has been sold, it has averaged 5 cents per gallon lower than E10.