Price And Availability Of Biodiesel Fuel
Gaining widespread commercial and general recognition, it is no surprise to find Biodiesel in many gas stations. The prime focus of this article is to shed light on price and availability of biodiesel fuels. Read on to know more.
The price of biodiesel fuel costs a little more than traditional fuels currently because the demand is not too great. However, with the realization of the benefits of a biodiesel fuel, demands are bound to grow and the biodiesel fuel prices will drop. Today, the biodiesel fuel is available at limited gasoline stations nationwide, and generally in a B20 blend. The biodiesel fuel price will likely cost 15 cents more per gallon than petroleum diesel after the dramatic shift in diesel pricing over the last year. Read on to know more on biodiesel fuel price and availability.
The feedstock cost of the oil is the largest single component of biodiesel production costs. The Energy Information Administration (EIA) employs a process-costing approach to model the impacts of net feedstock production costs plus capital and operating costs.
In recent times, the production of biodiesel fuel has reached around 4 million tons, with around 85% of biodiesel production coming from the European Union. Survey shows that an increasing number of individuals are using biodiesel fuel for their vehicles. Biodiesel fule is increasingly becoming popular in Europe. Germany is known to have the biggest market in the world and produces more one million metric tons annually. Studying the availability of biodiesel fuel across the globe, most of the metropolitan trains and buses in Adelaide in South Australia run on a B5 blend.
In 2005, Brazil opened a commercial biodiesel refinery, capable of making 12,000 m³ per year of biodiesel fuel. With the institution of Biodiesel Cambodia, the biodiesel industry was founded in Cambodia. The Canadian government has declared a goal of producing 500 million liters of biodiesel in the coming years and has excused biodiesel fule from the federal excise tax on die.
Looking into the biodiesel fuel availability, large amounts of biodiesel are produced and sold in China. Small biodiesel production projects have begun to mushroom in countries like Costa Rica, Estonia, Finland, France, Taiwan, Indonesia and Singapore. Many more countries are already on the way to encourage biodiesel fuel use in order to reduce their dependence on foreign oil.
Today Biodiesel is fast replacing both kerosene and diesel as a more competent, economical, and cleaner alternative. Due to the ample benefits to the environment, human health, economy, along with the reduction of dependence on foreign oil, Biodiesel is clearly the fuel of the future. We hope you found the above article on price and availability of biodiesel fuel both useful and informative.