Ethanol sales are up 400 percent during the first five months of this year, according to the Swedish Petroleum Institute (SPI).
During the first five months, some 17,000 cubic meters of ethanol E85 fuel was sold, a four fold jump from the same period in 2005, while at the same time, gasoline sales decreased 3.5 percent to 2.1 million cubic meters.
“Ethanol fuel is continuing to go up, but not compared to the decreased use of gas sales,” said SPI chief Ulf Svahn. “We clearly see a decreased in consumption.”
Svahn said he predicts the use of the green fuel to increase, but said it was hard to tell how the price would react on the Swedish market. He said gas prices are not likely to break 13 kronor per liter this summer unless something dramatic happens in Iraq.
According to SPI, a liter of 95 octane gas costs about 12,24.