Brazilians use more ethanol instead of gasoline
Data relased yesterday (08.24) by Brazil's National Agency of Crude Oil, Natural Gas and Biofuels reveal that hydrous ethanol registered in July the highest consumption in the last 15 years (in 2000, statistics started to be counted) for a month. The volume consumed in the period was 1.55 billion liters. In the state of Minas Gerais alone, the growth was close to 20% yearly. In the meantime, the use of common gasoline jumped just 2.3% between June and July.
Brazil now lives a deep recession (forecast of growth of -2% in 2015) , but the prices of ethanol became more competitive compared to gas recently in most states. Typically, ethanol is just consumed near the sugarcane areas of the country.
What do you guys think on that?