On April 2, the U.S. Environmental Protection Agency (EPA) approved E15 (gasoline with 15 percent ethanol) as a registered fuel. This is one step closer to seeing low-cost, renewable E15 sold into the American fuels marketplace, according to a release by the Renewable Fuels Association, an American lobby group promoting the use of ethanol in fuel.

"Our nation needs E15 to reduce our dependence on foreign oil – it will keep gas prices down at the pump and help to end the extreme fluctuations in gas prices caused by our reliance on fuel from unstable parts of the world," said Tom Buis, CEO of Growth Energy. "Today's announcement from EPA finally puts that goal within reach."

"This announcement strengthens the ethanol industry's efforts to innovate and continue to deliver domestically-produced and affordable alternatives to foreign oil," said Buis. "With ethanol selling an average of a dollar a gallon cheaper than gasoline and $4 a gallon gasoline on the horizon, we'd encourage all Americans to ask their local filling station how soon they will see more-affordable E15."

From the marine industry perspective however, all the major engine manufacturers have stated that E15 will not work in older engines and E15 is not recommended for newer engines mainly due the hygroscopic properties of ethanol that attract water into the fuel mix, potentially resulting in phase separation and severe engine damage.

For now, this news relates to just the American market however, the move may set a precedent and certainly, the auto industry would be quick to embrace any move that reduces fuels costs generally.

For Canadian boaters, be very careful when filling up your trailer boats at highway fuel stations in the US this summer.