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A new gas station opened up just a few months ago a few miles from my house.
It has the only E85 pump I have ever seen. I looked close at the pump to compare numbers. It costs about 50 cents a gallon less than regular unleaded.
That appears to be mostly because it is taxed very different than the standard fuels - you guessed it, by about 50 cents!
I have also heard that there is less fuel efficiency with E85 than gasoline, so you really aren't saving on cost per mile.
Also, I am in the Midwest, which is the Middle East of Ethanol, cost in other parts of the continent will vary.
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