According to EIA data analyzed by the Renewable Fuels Association for the week ending April 15, ethanol production dropped by 48,000 barrels per day (b/d), or 4.8%, to 947,000 b/d, equivalent to 39.77 million gallons daily and the lowest volume since September 2021. Production was 0.6% more than the same week last year and 4.7% above the five-year average for the week. The four-week average ethanol production volume decreased 2.4% to 995,000 b/d, equivalent to an annualized rate of 15.25 billion gallons (bg).
Ethanol stocks drew down by 1.9% to a thirteen-week low of 24.3 million barrels. However, stocks were 19.0% higher than a year ago and 5.1% above the five-year average. Inventories declined across all regions except the East Coast (PADD 1) and Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 1.5% to 8.87 million b/d (135.95 bg annualized). Demand was 2.6% less than a year ago but 5.3% above the five-year average.
Refiner/blender net inputs of ethanol ticked down 0.1% to 886,000 b/d, equivalent to 13.58 bg annualized. Net inputs were 0.4% less than a year ago but 5.9% above the five-year average.
There were no imports of ethanol for the twelfth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of February 2022.)