US gasoline demand soars, as ethanol blending dips
In the US, ethanol production for the week before last averaged 902,000 barrels per day, or 37.88 million gallons daily. The four-week average for ethanol production stood at 940,000 b/d for an annualized rate of 14.41 billion gallons.
Stocks of ethanol stood at 18.3 million barrels. That is a 1.8% decrease from last week.
Gasoline demand for the week averaged 393.1 million gallons daily, the highest weekly rate in more than three years (since the week ending 6/10/2011). This equates to an annualized rate of 143.5 billion gallons.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.64%. This is the lowest percentage of the year, owing to the reduced ethanol output rate and extremely high gasoline demand.
Category: Fuels
