Another down week for the nation’s ethanol production. The Energy Information Administration says it was down about 8,000 barrels a day from the previous week. Production averaged 1.028 million barrels a day which translates into 43.18 million gallons daily.
However, the four-week average for ethanol production was an all-time high of 1.032 million barrels a day. Overall stocks stood at 18.7 million barrels which represents a 2 percent drop from last week.
Demand for gasoline during the past week averaged 389.7 million gallons a day or 9.278 million barrels. That figures to be a refiner/blender average input of ethanol of 935,000 barrels every day. Expressed as the percentage of daily gasoline demand, daily ethanol production was 11.08 percent.