According to EIA data, ethanol production averaged 927,000 barrels per day (b/d)—or 38.93 million gallons daily. That is down 12,000 b/d from the week before and a 51-week low. The four-week average for ethanol production stood at 945,000 b/d for an annualized rate of 14.49 billion gallons. Stocks of ethanol stood at 21.6 million barrels. That is a 1.9% decrease from last week and the lowest in 14 weeks. Imports of ethanol were zero b/d for the 19th week in a row.
Gasoline demand for the week averaged 391.2 million gallons (9.315 million barrels) daily, down slightly from the previous week but 4.4% above year-ago levels. Refiner/blender input of ethanol averaged 918,000 b/d—a 34-week best and easily the highest rate of 2016.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.95%, marking the third week in a row below 10%.
