Sugar-cane fuel wins in Brazil as cheap ethanol beats petrol
Sao Paulo
BRAZIL's economic and political crises are proving to be a boon to one of the nation's most embattled sectors: ethanol producers.
Drivers, who used to switch between ethanol and petrol depending on the price gap, are now just going for the cheaper, less-efficient ethanol as they try to cut short-term spending amid a battle with inflation as high as 10.7 per cent, rising unemployment and an economy contracting at the fastest pace in a century. That's helping keep ethanol prices at a record high for more than three months.
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