Wholesale prices for E85 in Iowa have reached a record low according to the Iowa Renewable Fuels Association. E85 is a blend of 15 percent gasoline and 85 percent ethanol, which is defined as an alternative fuel. IRFA Executive Director Monte Shaw stated, “With several wholesale suppliers offering E85 at less than half the price of petroleum gas, Iowa’s flex-fuel vehicle owners should be able to benefit from great E85 savings.” For example, Quad County Corn Processors in Galva have it priced at $1.35 with 85% ethanol content. Iowa has 43 ethanol refineries which produce more than 3.8 billion gallons annually.