AAA projects 81.8 million people will travel at least 50 miles from home over this Thanksgiving holiday, which is an additional 1.6 million travelers compared to last Thanksgiving, setting a new overall record.

If you are among the 90 percent heading over the river and through the woods by road, the good news is gasoline prices heading into Thanksgiving are about the same as they were a year ago, and prices have been relatively stable in recent months. Renewable Fuels Association Chief Economist Scott Richman says while it might not always be visible at the gas pump, ethanol lowers fuel prices every time we fill up.

An important economic benefit that was highlighted in a recent study by refining expert George Hoekstra is that ethanol reduces the cost of octane, a key quality attribute of gasoline. The octane level of gasoline is reflected in the numbers we see on pump labels, generally ranging from 87 for regular unleaded gasoline to 91+ for premium gasoline.

The Hoekstra study estimated that American drivers save $0.39 per gallon—or well over $50 billion each year—because ethanol is used throughout the gasoline pool, substituting for more expensive (and dirtier) refinery-produced octane.

In an RFA Blog post, Richman added that ethanol also saves consumers money by extending the fuel supply and thereby holding down the cost of crude oil and refined gasoline blendstock and ethanol is typically cheaper than gasoline blendstock on a per-gallon basis in the wholesale market. In addition, gasoline blended with 15% ethanol (E15) is even less expensive at retail than E10, the blend that constitutes the vast majority of gasoline sold in the U.S.