# Bioethanol and Crude oil

Their prices have moved together.

Source page: https://www.materialinsights.org/links/bioethanol-and-crude-oil/

[Bioethanol](https://www.materialinsights.org/energy/bioethanol/) (chemical) and [Crude oil](https://www.materialinsights.org/energy/crude_oil/) (energy): 1 relationship.

## How they are linked

### 1. Price link: fuel competitor

*Cost and price · Moderate · Both ways*

Ethanol is blended into petrol, so oil and petrol prices set its value as a fuel. Monthly moves correlate at 0.21 and yearly at 0.51, with oil leading by about 1 month.

- **0.21** monthly change correlation
- **0.51** 12-month change correlation
- **0.44** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.