Do you want to know the price per gallon for ethanol? If it is, you should read this post.
Ethanol fuel is an energy source made from ethyl alcohol, the same alcohol found in alcoholic beverages. It’s most commonly used as a biofuel additive for gasoline and as a motor fuel. Biomass, such as corn or sugarcane, is widely used to make ethanol.
In addition, ethanol-blend fuel is widely used in Brazil, the United States, and Europe. Most cars on the road in the United States today can run on ethanol blends of up to 10%, which accounts for 10% of all gasoline sold in the country. Some flexible-fuel vehicles are capable of running on 100% ethanol.
This type of commodity is usually marketed and sold by the gallon. A gallon is a unit of volume, that is, a measure of the capacity of Anglo-Saxon origin. It is used to measure liquid volumes, being especially used to measure gasoline. There are two types of gallons: the imperial or British gallon and the international or U.S. gallon. Used in Canada, the USA, Puerto Rico, Colombia, among others, the gallon can be seen on all product labels in these countries.
One gallon is equivalent to 3.7854118 liters in the United States, Canada, Puerto Rico, Colombia, Panama, and Peru. On the other hand, one liter is equivalent to 0.26417205 U.S. gallons. The British one has different pricing.
So, if you want to get involved in this sort of business, you need to employ an API, which is an interface that connects two computers and allows them to communicate with each other, and share information. In this sense, one of the most well-known platforms to track the commodity market is Commodities-API.
Why Commodities-API?
Commodities-API is a piece of software that provides real-time ethanol statistics. It has the option of updating every 10 minutes or every 60 seconds. It also provides historical data, allowing you to look back on previous events and aiding in the planning of future actions.
Moreover, Commodities-API supports rice, wheat, natural gas, coffee, corn, sugar, ethanol, Brent crude oil, WTI crude oil, soybeans, gold, silver, and a variety of other commodities and currencies. With this method, you can acquire real-time and historical data on a wide range of commodity rates. Also, you can look for the price per ton or gallon of all these goods. This strategy is used to conduct business in a range of industries and websites.
In addition, this software uses an API to get data from banks and the stock market, making it completely trustworthy. The data is subsequently supplied with a precision of two decimal places and can be transformed to JSON, PHP, or Python. Furthermore, Commodities-API encrypts your connection with bank-grade 256-bit SSL encryption.
Also, this API returns midpoint data, which is calculated by averaging the median bid and ask rates for a specified time period. For currency and commodity price conversions, the same API endpoints are utilized, and they can convert any amount from one currency to another, from one commodity to another, or from one quantity to another.
How to use it?
If you want to obtain the pricing per gallon for ethanol, you must follow these steps:
1. Enter www.commodities-API.com and sign in to get your own API key.
2. Search for the symbols of Ethanol and the currency you prefer (per gallon).
3. Use these symbols to find the commodity and currency in the list. Once you choose them, make the API call.
4. The website will return you an API in various programming languages that you can adapt and use and adapt however you like.
Also published on Medium.