The November delivery price of wholesale unleaded gasoline fell 0.96 cent a gallon, to 50.58 cents.

On the other hand, wholesale unleaded gasoline jumped 1.35 cents a gallon, to 53.48 cents, recovering its loss of a day earlier.

But when the first plants went on-line in 1978, wholesale ethanol cost 80-cents-a-gallon more than wholesale gasoline.

The price for future delivery of wholesale unleaded gasoline moved lower.

The price of wholesale gasoline dropped 18.5 percent from October 2005 to October 2006.

Profit margins slipped below 15 cents a gallon for wholesale gasoline last January, he said, leading refiners to cut output.

September contracts for wholesale unleaded gasoline closed at 51.04 cents a gallon, up 0.14 cent from Wednesday.

The oil company, based in Houston, also said it would cut prices for its unbranded wholesale gasoline an average of 10.65 cents a gallon.

Mr. Ryan said technical factors and rising oil prices, particularly in wholesale gasoline, also helped push the dollar higher.

Near-term contracts for wholesale gasoline dipped 0.23 cent, to 43.71 cents a gallon.