Stations in large cities have avoided raising gasoline prices to maintain sales, despite rising refinery costs. Since April, the wholesale cost increased by 59%, while prices at the pump fell 4% in the state of São Paulo, according to data from Petrobras and the National Petroleum Agency (ANP), reported Bloomberg.
Some ethanol producers worldwide said demand is up for their products due to customers stockpiling hand sanitizer – which can be made using the industrial ethanol – as the coronavirus outbreak worsens, reports Reuters.
Public anger in France over increasing fuel prices, which gave rise to the anti-government “yellow vest” movement, has further boosted demand for crop-based ethanol fuel from motorists seeking cheaper deals, according to industry representatives, reported Reuter.
Fossil fuel stocks have long been a safe financial bet. With price rises projected until 2040* and governments prevaricating or rowing back on the Paris Agreement, investor confidence is set to remain high. However, new research shows that the demise of the fossil-fuel industry has profound economic and geopolitical consequences
Indonesia will need 3.6 million tonnes of sugar for industrial use next year, compared with this year’s 3.4 million tons, according to an estimation by the Ministry of Industry, reported Jakarta Globe.