According to EIA data analyzed by the Renewable Fuels Association for the week ending June 3, ethanol production declined 3.0% to 1.039 million b/d, equivalent to 43.64 million gallons daily. Production was 2.6% less than the same week last year but 2.8% above the five-year average for the week. The four-week average ethanol production volume increased 1.2% to 1.029 million b/d, equivalent to an annualized rate of 15.77 billion gallons (bg).
Ethanol stocks expanded 2.9% to 23.6 million barrels. Stocks were 18.4% higher than a year ago and 9.1% above the five-year average. Inventories rose across all regions except the Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, increased 2.5% to 9.20 million b/d (141.02 bg annualized)—the largest weekly volume this year. Demand was 2.5% higher than a year ago and 1.3% more than the five-year average.
Conversely, refiner/blender net inputs of ethanol slid 2.7% to a five-week low of 898,000 b/d, equivalent to 13.77 bg annualized. Net inputs were 0.8% less than a year ago and 0.2% below the five-year average.
There were no imports of ethanol for the third consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of April 2022.)
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