Please note that the Ethanol Market and Pricing Data Report will not be published for the week of August 4th, 2025. We will resume normal publishing on August 13th. Thank you for your understanding.
Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices ended last week 0.7 percent lower and were weaker still in early week trading and fell 1.5 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week and were down 0.2 percent through Tuesday’s market close to their last quote of 50.06 cents/liter (189.48 cents/gallon).
FOB Houston ethanol prices finished last week 8.1 percent higher but are down 0.4 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 49.06 cents/liter (185.7 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were higher last week; they are down in early week trading, falling 0.7 percent to 55.45 cents/liter (209.89 cents/gallon) through Tuesday’s close.
The FOB Gulf-Santos, Brazil ethanol spread has narrowed from last week’s close through Tuesday’s trading and is currently at -6.39 cents/liter (-24.19 cents/gallon).
MTBE prices fell 1.2 percent last week and pushed lower in early week trading to fall 0.4 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has increased from last week’s report and stands at 4.29 cents/liter (16.25 cents/gallon).
BTX component prices were mixed last week but were weaker through Tuesday’s market close: Benzene was down 0.6 percent while Toluene was down 1.6 percent, and Xylene was down 0.9 percent. The estimated weighted average aromatic price is currently 74.93 cents/liter (283.65 cents/gallon), down from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is 25.88 cents/liter (97.96 cents/gallon) higher than the FOB Houston ethanol price.
Gasoline and petroleum products were mostly higher last week and rallied sharply in early week trade. RBOB futures are up 5 percent to start the week while FOB Prices for 87 CBOB and 87 conventional gasoline are up 5.8 and up 4.4 percent, respectively. WTI futures are 5.4 percent higher at $68.67/barrel while Brent futures are up 5.1 percent to $71.13/barrel, from Friday through Tuesday’s close.
Liquid tanker rates are 3 percent higher on average this week with offers for the U.S. Gulf to the East Coast of Mexico seeing the largest gains (up 29 percent). Freight from the U.S. Gulf to China saw the largest declines and is down 2 percent from last week. On average, tanker freight from the U.S. Gulf is up 5 percent this week while freight from the PNW has posted a 1 percent decline. Liquid tanker freight rates from Brazil are up 2 percent, on average, this week. Freight rates across all origins are 20 percent lower than this same week in 2024.
On a cost-and-freight (C&F) basis, offers are mostly lower this week as lower FOB offers for ethanol have offset gains in liquid tanker freight rates. Prices for ethanol C&F to Central America from the U.S. Gulf are down 0.4 percent this week and are down 7.1 percent from this same week in 2024. Values for PNW ethanol to Southeast Asia average $728.11/MT this week, down 1.9 percent from the prior week and down 6 percent year-over-year. That compares to U.S. Gulf to Southeast Asia C&F prices that average $684.97/MT and are down 1.1 percent from last week and are down 7.4 percent year-over-year. C&F prices for Brazilian ethanol to Southeast Asia are down 0.1 percent from last week.
