Biofuels twice as expensive as petrol and diesel in most cases
Biofuels add €17 billion a year to Europe's fuel bill
Biodiesel costs are currently 70% to 130% higher than petrol and diesel on the wholesale market depending on the crop used, a new study into the true cost of biofuels shows. Transport & Environment, who carried out the study, has called on the EU to end the mandatory blending of crop biofuel to help ease pressure on food and fuel prices alike.
In recent years, biofuels have consistently been more expensive compared to fossil fuels in Europe. With the current price hikes in many of the feedstocks used for biofuels like vegetable oils, cereals, used cooking oil and animal fats, the price difference to fossil fuels is becoming ever larger. Bioethanol from EU production, for example, is twice as expensive as petrol. In total, biofuels add €17 billion a year to Europe’s fuel bill.
Maik Marahrens, senior biofuels campaigner at T&E, said: “Biofuels are worse for the climate, worse for biodiversity and contribute to higher food prices. As this analysis of wholesale prices shows, they also put an unnecessary financial burden on already struggling European households. The EU should end mandates for crop biofuels and commit to truly sustainable technologies instead.”