The minimum blend is technically 23%, but the government allows for a fluctuation of between 20% and 25%. Currently, the mandate is the latter.
Ethanol prices have been better than oil prices here, the latter of which are determined by the state-owned, semi-private oil company, Petrobras, and are generally higher than international prices.
Brazil is the world's largest producer of sugar-cane ethanol, and a major consumer of the biofuel thanks to flex-fuel cars that can run on any mix of gasoline and ethanol and are increasingly common on the roads of Brazil.
