Alternative fuels are 29% more cost-competitive than three years ago in comparison with hydrocarbon energy, according to the results of a study released by the Energy Management Institute.
The study covered three years of pricing data from more than 80 urban areas in all 50 states. "We crunched a lot of data for this one," says J. Scott Susich, editor of EMI's Alternative Fuels Index publication.
The results showed the following alternative fuel sources to be more cost-competitive than their gasoline and diesel counterparts: natural gas is 414% more competitive than it was three years ago; electricity 36%; biodiesel 29.2%; propane 21.3%; ethanol 17.4%.
Compared directly to crude oil, those five alternative fuels are 32.5% more competitive than three years ago.
EMI is a New York-based division of Advanced Energy Commerce Inc.