The nation’s ethanol production has increased to its highest total in nine weeks, reaching an average of 999,000 barrels a day, a 21,000 barrel increase in the past week. The U.S. Energy Information Administration indicated the four-week average stood at 989,000 barrels a day for an annualized rate of 15.16 billion gallons.
With the increase in production came a 1.9 percent decrease from last week in stocks of ethanol which slipped to 22.9 millon barrels.
Gasoline demand averaged 397.2 million gallons a day which translated into 9.458 million barrels a day. The refiner/blender input of ethanol averaged 888,000 barrels a day.
In other words, the daily ethanol production figured to be 10.56 percent of the nation’s daily gasoline demand.
