The new Congressional budget deal enacted this month reinstated a dollar-per-gallon biodiesel fuel tax credit. While this credit will have no direct impact on increasing biodiesel fuel sales, it is hoped to encourage investment in infrastructure for fuel blenders. This could increase production by over 300 million gallons in just a year.
Filling stations that sell biodiesel fuel could receive a credit up to $100,000 from the government. However, only a fraction of gas stations across the country currently have the capability of selling biodiesel fuel.
Ethanol is cheaper than regular gasoline, so many companies are beginning to use it as a fuel supplement. While ethanol is more environmentally friendly, it cannot produce as much energy as conventional gasoline can. So, it is still unknown if consumers would really decide to buy more biofuel if it were more readily available. But, the biofuel industry will definitely influence the fuel market in the future.
If you want to keep your business on top of all the future changes in the fuel industry, don’t trust anyone but Sokolis Fuel Management. We will keep your fleet aware of emerging trends, such as biodiesel, and will provide expert advice on how your company individually can benefit in terms of fuel savings.
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