As commodity prices like corn and oil continue to drop, many are wondering why grocery prices are still so high, said Todd Sneller, administrator for the Nebraska Ethanol Board.

After peaking earlier this year, Sneller said corn prices dipped below $3 last month. But grocery manufacturers, he said, are still charging high prices for food products while raking in big profits—and blaming biofuels.

According to Sneller, the Grocery Manufacturers Association started a $300 million disinformation campaign blaming ethanol for high grocery prices.

“But now that corn prices have plummeted, can consumers count on the GMA members to lower their prices?,” he said.

The truth, Sneller said, is that biofuels like ethanol save consumers money by lowering gas and oil prices and will play a key role in leading the U.S. toward greater energy security.

“OPEC pushes up oil prices to the brink then drops them to keep the U.S. hooked on foreign oil,” Sneller said. “Investing in alternative, renewable fuels like ethanol are the only real long-term solution to volatile fuel prices.”

As the ethanol industry evolves, some plants are returning to more locally-based ownership models. Locally owned plants create a significant economic impact on the communities and states in which they operate.

“We are seeing a few plants move back to local control and ownership, which demonstrates the strength of Nebraska’s agricultural sector,’ Sneller said. “In many cases this makes it easier for an ethanol plant to adjust quickly to changes in the market.”