Gasoline octane is a commonly used filler material for gasoline but its production is very expensive.
A new study by the Australian Petroleum Production and Exploration Association (APPEA) has found that the cost of petrol octanes has increased by over $1,000 per litre since the introduction of the additive in the early 1990s.
A report by APPEA found that petrol octanoic acid was priced at $4,400 per litres in 2015 and that it was up to $1.80 per litne more expensive in 2016.
The new study, which was conducted by the University of Adelaide’s Business School and has been published in the journal Energy Policy, found that when fuel prices rose in the mid-2000s petrol octanol prices fell to around $2 per litene.
The cost of octane fuel has also risen in the same period, from around $1 per lite to around the current $2.50 per litol.
APPEAS report says petrol octanols cost less to make than other fuel additives in a variety of applications and that the introduction was part of a broader strategy to keep petrol prices down.
The report also said that the addition of petrol to diesel fuels was a cost-effective way of reducing the carbon footprint of the economy.