Ethanol production hits another record low

For the second week in a row, U.S. ethanol production ran at record lows because Americans are driving less during the coronavirus pandemic. The Energy Information Administration said fuel ethanol production shrank to 570,000 barrels a day during the week ending April 10, the lowest daily average since record keeping began in 2010.

Production was 15 percent lower than the 672,000 barrels a day reported a week earlier, at the time the lowest average daily output on record. Meanwhile, ethanol stocks rose to a record 27.5 million barrels, said the Renewable Fuels Association.

Gasoline demand is running at barely more than half of last year’s rate, said the RFA. Demand for ethanol has fallen in step with shrinking gasoline usage. The ethanol industry has asked for federal aid.