As of July 2006, the rack price of ethanol was $3.14 versus $2.39 for unleaded gasoline--a difference of 75 cents per gallon. Unleaded gasoline's average rack price in July was 44 percent higher than a year ago. The rack price of ethanol in April, May, and June more than doubled the price in those respective months of last year due to demand exceeding supply. Demand was high as a result of the phase out of MTBE. The ethanol rack price was 44 cents lower in July compared to the price in June possibly due to supply catching up with demand.