RFA: Drivers Would Save 6 Cents per Gallon on E15

Though gasoline prices are higher than last year heading into the Fourth of July holiday, a new Renewable Fuels Association analysis found that E10, or 10% ethanol-blended gasoline, is saving consumers at the pump.According to AAA, a record 39.7 million Americans are expected to travel 50 miles or more by automobile for the holiday. That is a 5% increase from more than one year ago. The RFA said those drivers will be paying at least 12% less for gasoline -- or 26 cents per gallon -- because of ethanol. Ethanol is expected to reduce household spending on gasoline by $37 billion this year, or $292 per household.The analysis also shows if E15 was available nationwide in place of E10, consumers would be saving even more money. The wholesale savings currently attributable to E15 is 32 cents per gallon, or 15% lower than E0 gasoline.