Another drop in ethanol production in the U.S. was reported last week. The production averaged 987,000 barrels a day or 41.45 million gallons daily. But that is a decline of 7,000 barrels a day from the previous week, according to the Energy Information Administration.
The four-week average of ethanol production stood at 981,000 barrels a day which figures to an annualized rated of 15.04 billion gallons.
While production slipped, so did the stocks of ethanol. They stood this week at 22.6 million barrels or a drop of 2.1 percent from last week.
Gasoline demand for the week also averaged 383.1 million gallons or 9.121 million barrels a day. The refiner/blender input of ethanol averaged 882,000 barrels a day. In other words, the daily ethanol production of the daily gasoline demand was 10.82 percent.
