Ethanol and gas have settled back into a more normal price differential after three months of being nearly the same once gas prices started to plummet late last year.

Renewable Fuels Association president and CEO Bob Dinneen notes that “wholesale ethanol prices traded near parity with—or even above—gasoline prices intermittently in November, December, and January,” but since the end of January, ethanol prices “have been below gasoline prices every day.”

Dinneen refuted a statement by the Petroleum Marketers Association of America that ethanol was “taking a hit” because of the price parity noting that “since January 1, 2011, daily ethanol prices have been below gasoline prices 91% of the time” averaging about 50 cents per gallon. Since January 30, 2015, ethanol has averaged 26 cents less than gasoline.

Market analyst Randy Martinson with Progressive Ag says there was definitely a concern when ethanol prices were higher than gasoline in December. “But the price of corn has dropped and we’ve gotten ethanol back in line and the profitability is improving for ethanol plants,” said Martinson, who adds that the bigger concern for ethanol declining gasoline use.