Demand for fuel as drivers return to the road is pushing ethanol prices close to an all-time high.
Prices for ethanol, the corn-based fuel that is a common additive to gasoline, have risen about 50% year to date, with the near-term contract trading at about $2.20 a gallon on the Chicago Board of Trade. The price pushed through $2 a gallon earlier this year, the first time since 2014 it has done so. August traffic on the streets was up 8% from last year, according to the U.S. Federal Highway Administration.