Ethanol gained for a second day on speculation that increased demand for gasoline will spur consumption of the biofuel. The additive’s discount to the motor fuel contracted 4.83 cents to 80.35 cents a gallon, higher than the 57.15 cents averaged so far this year. Gasoline demand over the past four weeks was 4.7 percent above a year ago as of Nov. 8, data from the Energy Information Administration show. “It’s tight,” said Julie Ward, an assistant vice president at R.J. O’Brien & Associates, a broker in Des Moines , Iowa . “Demand is still good. With ethanol trading almost a buck under gasoline, refiners should be blending as much as they can.” Denatured ethanol for December delivery rose 3.1 cents, or 1.7 percent, to $1.836 a gallon on the Chicago Board of Trade, the highest settlement since Oct. 25. Prices have fallen 16 percent this year. Gasoline for December […]