The nation’s output of ethanol production was the lowest in the past week since the week of September 18, 2015, according to figures released this week by the U.S. Energy Information Administration.
Production averaged 938,000 barrels a day or 39.40 million gallons daily. That’s a drop of 38,000 barrels a daily from the previous week, leaving the four-week average of ethanol production at 975,000 barrels a day, or an annualized rate of 14.95 billion gallons.
Otherwise, stocks of ethanol stood at 22.3 million barrels which is an increase of 0.5 percent from last week’s reserve of 22.2 million barrels.
How does it play into gasoline use? Gasoline demand for the week averaged 404.6 million gallons or 9.63 million barrels or the highest gasoline demand since the week ended August 14, 2015. It is also the 18th highest demand number in the 1,313 weeks since the EIA started publishing weekly data in 1991.
Reinfer/blender input of ethanol averaged 907,000 barrels daily which was the highest since the last week of 2015.
In terms of how much percentage it figures to be of daily gasoline demand, the daily ethanol production was 9.74 percent, lowest since August 2014 and the first time under 10 percent in 34 weeks.
