A new weekly record for ethanol production is reported by the Energy Information Administration. Ethanol produced increased 7,000 barrels a day from last week, hitting 1.013 million barrels a day or 42.55 million gallons daily.
The four week average stood at 981,000 barrels a day for an annualized rate of 15.04 billion gallons. As of this week, ethanol stocks stood at 21.2 million barrels which is an increase of 4.7 percent over last week.
And for a 26th straight week, there were no imports of ethanol.
But the gasoline demand, increasing with the summer driving, averaged 410 million gallons a day, which translates into 9.762 million barrels daily. The refiner and blender input of ethanol averaged 922,000 barrels a day. Expressed as a percentage of daily gasoline demand, that means the daily ethanol production was 10.38%.
