According to EIA data, ethanol production averaged 976,000 barrels per day (b/d)—or 40.99 million gallons daily. That is down 16,000 b/d from the week before. The four-week average for ethanol production stood at 990,000 b/d for an annualized rate of 15.18 billion gallons. Stocks of ethanol stood at 22.2 million barrels. That is a 3.5% decrease from last week and the lowest since the week of 1/22/2016. Imports of ethanol were nonexistent for the 16th straight week.
Gasoline demand for the week averaged 387.4 million gallons (9.224 million barrels) daily. Refiner/blender input of ethanol averaged 898,000 b/d, the highest weekly total so far this year. Expressed as a percentage of daily gasoline demand, daily ethanol production was 10.58%.
