According to EIA data, ethanol production averaged 998,000 barrels per day (b/d)—or 41.92 million gallons daily. That is down 31,000 b/d from last week’s historic high. The four-week average for ethanol production stood just a notch below last week’s record average, totaling 1.004 million b/d for an annualized rate of 15.39 billion gallons. Ethanol production has exceeded 1 million b/d in five of the last eight weeks.
Stocks of ethanol stood at 20.4 million barrels. That is a 3.6% decrease from last week and an eight-week low.
Imports of ethanol were nonexistent for the third straight week.
Gasoline demand for the week averaged 411.5 million gallons (9.797 million barrels) daily. Over the past eight weeks, gasoline demand has averaged 149.2 billion gallons annualized. Refiner/blender input of ethanol averaged 936,000 b/d—the third-highest rate on record. Ethanol blending has averaged 14.3 billion gallons annualized over the past eight weeks.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 10.19%.
