U.S. ethanol production climbed to its second-highest level on record last week, according to new data from the Energy Information Administration analyzed by the Renewable Fuels Association. Production increased three-point-six percent during the week ending July 24th, averaging more than 1.1 million barrels per day, or nearly 48 million gallons daily. Output also remained above year-ago levels and the five-year average.

Ethanol inventories rose one percent to their highest level in nine weeks, while domestic ethanol blending improved to its strongest pace since May of last year. Gasoline demand increased slightly but continued to trail both last year’s pace and the five-year average. Meanwhile, ethanol exports declined more than 13 percent. Even so, the Renewable Fuels Association says the industry continues to benefit from strong domestic production.

By: NATHAN STUEDLEU.S. ethanol production climbed to its second-highest level on record last week, according to new data from the Energy Information Administration analyzed by the Renewable Fuels Association. Production increased three-point-six percent during the week ending July 24th, averaging more than 1.1 million barrels per day, or nearly 48 million gallons daily. Output also remained above year-ago levels and the five-year average.Ethanol inventories rose one percent to their highest level in nine weeks, while domestic ethanol blending improved to its strongest pace since May of last year. Gasoline demand increased slightly but continued to trail both last year’s pace and the five-year average. Meanwhile, ethanol exports declined more than 13 percent. Even so, the Renewable Fuels Association says the industry continues to benefit from strong domestic production.

Ethanol production nears record high