In the US, ethanol production averaged 927,000 b/d last week, or 38.93 million gallons daily, 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 gallons, reported the Renewable Fuels Association.
Stocks of ethanol stood at 21.6 million barrels, a 1.9% decrease from last week and the lowest level since January.
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 yearago levels.
Refiner/blender input of ethanol averaged 918,000 b/d—a 34week 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%.
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