Wal-Mart Stores Inc. (WMT), the world's largest retailer, is considering selling ethanol-based fuel at its more than 380 gasoline stations, the Wall Street Journal reported late on Wednesday.

The move could give the sales of alternative fuels a significant boost amid steep gasoline prices, the Journal said in a report on its Web site.

The retailer held an alternative fuels summit in Washington this week to explore plans to sell E-85, a blend of ethanol, mixed with 15 percent gasoline.

Wal-Mart's meeting was attended by representatives of the auto industry, oil companies, government officials and biofuel producers, the report said.

"The purpose was to explore expanding alternative fuels in the marketplace and help us consider carrying E-85," Wal-Mart spokesman Kevin Gardner told the Journal.

Wal-Mart had yet to determine if it could sell the alternative fuel profitably, the Journal said.

A company spokesman was not immediately reachable for further comment.

Click here to visit FOXBusiness.com's Autos page.

Click here to visit FOXBusiness.com's Energy page.