A hybrid fuel and methods of making the same are disclosed. A process for making a hybrid fuel includes the steps of combining a biofuel emulsion blend and a liquid fuel product to form a hybrid fuel. Optionally, the hybrid fuel can be combined with water in a water-in-oil process and include oxygenate additives and additive packages. A hybrid fuel includes blends of biofuel emulsions and liquid fuel products, including light gas diesel. Optionally, the hybrid fuel can include water, oxygenate additives, and other additive packages.