Ethanol production to increase in 2015
The U.S. Energy Information Administration (EIA) has released the November issue of its Short-Term Energy Outlook, which expects ethanol production to average 934,000 barrels per day in 2015.
June's ethanol production matched the monthly average production record of 959,000 barrels per day set in December 2011. At present, the EIA anticipates 2014 production to average 927,000 barrels per day this year, increasing by 7,000 to 934,000 barrels per day next year.
In 2013, biodiesel production averaged 89,000 barrels per day, and is expected to decrease to an average of 80,000 barrels per day this year. Biodiesel production levels are likely to increase to an average of 84,000 barrels per day in 2015.
On 3 November, petrol prices averaged $2.99 (€2.39) per gallon, an amount the EIA says is the lowest level since December 2010. Petrol retail prices are expected to continue to decline for the rest of the year dropping to $2.80 per gallon in December.