According to EIA data analyzed by the Renewable Fuels Association for the week ending Sept. 6, ethanol production averaged 1.023 million barrels per day (b/d)— equivalent to 42.97 million gallons daily. Output expanded by 10,000 b/d, or 1.0%, from the previous week and was 0.3% above the same week last year. However, the four-week average ethanol production rate slowed 0.6% to 1.024 million b/d, equivalent to an annualized rate of 15.70 billion gallons. This was the lowest level since April and was 3.6% below the average at the same time last year.
RFA notes that daily ethanol production as a percentage of daily gasoline demand decreased to 10.43%. In addition, ethanol stocks dropped 5.5% to 22.5 million barrels, reflecting an eleven-week low and 1.7% below the same week last year.