Decline in Gasoline Demand Spills Over to Ethanol
WASHINGTON, DC – The U.S. Energy Information Administration (EIA) is confirming what many in the biofuel industry already thought: both ethanol production and consumption in 2020 fell to their lowest levels in more than seven years. According to the EIA, production slipped below 14 billion gallons, a 12 percent reduction from 2019 and the lowest level since 2013. Consumption fell 13 percent from one year earlier, to the lowest level since 2009 (12.6 billion gallons). The situation is based squarely on the heels of the COVID-19 pandemic and the historic 13.5 percent decline in gasoline demand.
(SOURCE: All Ag News)