According to EIA data analyzed by the Renewable Fuels Association for the week ending August 5, ethanol production eased by 2.0% to 1.022 million b/d, equivalent to 42.92 million gallons daily. Production was 3.7% more than the same week last year and 0.6% above the five-year average for the week. The four-week average ethanol production volume increased 0.4% to 1.030 million b/d, equivalent to an annualized rate of 15.79 billion gallons (bg).
Ethanol stocks dipped 0.6% to 23.3 million barrels. However, stocks were 4.4% higher than a year ago and 5.0% above the five-year average. Inventories thinned across all regions except the Midwest (PADD 2) and Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, rebounded by 6.8% to 9.12 million b/d (139.86 bg annualized). Demand was 3.3% less than a year ago and 3.5% below the five-year average.
Refiner/blender net inputs of ethanol ticked up 0.1% to a 10-week high of 909,000 b/d, equivalent to 13.93 bg annualized. Still, net inputs were 2.3% less than a year ago and the five-year average.
Imports of ethanol arriving into the West Coast were 36,000 b/d, or 10.58 million gallons for the week. This marks the first imports in twelve weeks and only the third week this year that ethanol was imported. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of June 2022.)
