According to EIA data analyzed by the Renewable Fuels Association, ethanol production averaged an unprecedented 1.043 million barrels per day (b/d)—or 43.81 million gallons daily. That is up 15,000 b/d from the week before and a record high to end a banner year for ethanol production. Weekly production averaged more than 1 million b/d for ten straight weeks to finish the year. The four-week average for ethanol production stood at a record 1.037 million b/d for an annualized rate of 15.90 billion gallons.
Stocks of ethanol remained unchanged at 18.7 million barrels.
Imports of ethanol were nonexistent for the 19th straight week.
Gasoline demand during the holiday week averaged 355.5 million gallons (8.465 million barrels) daily, the lowest since the week ended 1/29/2016. Refiner/blender input of ethanol averaged 845,000 b/d, a 48-week low.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 12.32%–a new record high.