WASHINGTON – According to EIA data, ethanol production averaged 994,000 barrels per day (b/d)—or 41.75 million gallons daily. That is up 19,000 b/d from the week before and a six-week high. The four-week average for ethanol production stood at 974,000 b/d for an annualized rate of 14.93 billion gallons.
Stocks of ethanol stood at 23.1 million barrels. That is a 0.5% decrease from last week and the first reduction in four weeks.
Imports of ethanol were nonexistent for the 10th week in a row.
Gasoline demand for the week averaged 402.2 million gallons (9.576 million barrels) daily, the highest since August 2015. Refiner/blender input of ethanol averaged 882,000 b/d, the highest rate of the year.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 10.38%