U.S. ethanol production declined last week, but output continues to run above both year-ago and five-year average levels. The Renewable Fuels Association says production fell two-and-a-half percent during the week ending August 14 to 1.09 million barrels per day. That equals nearly 46 million gallons daily. Despite the weekly decline, production was nearly two percent above last year and six percent above the five-year average.

Ethanol inventories increased to 25.1 million barrels, their highest level since early May and more than ten percent above year-ago levels. Gasoline demand weakened, falling to an 11-week low of 8.69 million barrels per day. However, ethanol use by refiners and blenders increased slightly, while exports jumped more than 18 percent to 129,000 barrels per day.

By: NATHAN STUEDLEU.S. ethanol production declined last week, but output continues to run above both year-ago and five-year average levels. The Renewable Fuels Association says production fell two-and-a-half percent during the week ending August 14 to 1.09 million barrels per day. That equals nearly 46 million gallons daily. Despite the weekly decline, production was nearly two percent above last year and six percent above the five-year average.Ethanol inventories increased to 25.1 million barrels, their highest level since early May and more than ten percent above year-ago levels. Gasoline demand weakened, falling to an 11-week low of 8.69 million barrels per day. However, ethanol use by refiners and blenders increased slightly, while exports jumped more than 18 percent to 129,000 barrels per day.

Ethanol production slips, remains above average