Bloomberg News

Ethanol Production in U.S. Increases Most in 8 Weeks, DOE Says

October 05, 2011

Oct. 5 (Bloomberg) -- Ethanol production in the U.S. increased 2.6 percent to 863,000 barrels a day in the week ended Sept. 30, according to an Energy Department report.

Output rose the most since the week ended Aug. 5, while rebounding from its lowest level since Sept. 24, 2010. Stockpiles were steady at 17.3 million barrels, the department said.

Production of conventional gasoline blended with ethanol rose 2 percent, the most since June 10, to 5.16 million barrels a day. That’s the highest level since the week ended Aug. 26. Refiners receive a 45-cent tax credit for every gallon of ethanol blended into the motor fuel.

Denatured ethanol for October delivery advanced 4.2 cents, or 1.7 percent, to $2.50 a gallon at 10:48 a.m. New York time on the Chicago Board of Trade. Futures have gained 5.1 percent this year.

--Editors: Bill Banker, Richard Stubbe

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.


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