Ethanol production increases to 12.46B gallons on annualized basis

In Washington, the EIA reports that ethanol production averaged 827,000 barrels per day (b/d) – or 34.73 million gallons daily.  That is up 2,000 b/d from the week before.  The 4-week average for ethanol production stood at 813,000 b/d for an annualized rate of 12.46 billion gallons.

Stocks of ethanol stood at 18.1 million barrels. That is a 5.7% decrease from last week and the lowest of the year. Reported stocks on the East Coast dropped 12.5%, likely the result of Hurricane Sandy-induced terminal outages. Imports of ethanol showed 60,000 b/d, up slightly from last week. Gasoline demand for the week averaged 349 million gallons daily.