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When my mother had a flexfuel Chevrolet Celta, she actually got a better mileage while using a higher amount of ethanol due to its improved anti-knocking properties. I don't remember its compression ratio right now, but it was quite high for a port-injection engine, and then it was quite unavoidable to get some knocking issues when sugarcane is out of season and the ethanol content of Brazilian gasoline is reduced from 25% to 20%.
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