Ethanol Output Falls 1.7% From Record, Energy Department Says
Ethanol output in the U.S. slipped 1.7 percent last week to 938,000 barrels a day from a record the previous week, according to an Energy Department report.
Production of conventional gasoline blended with ethanol slipped 0.7 percent to 5.15 million barrels a day. Refiners receive a 45-cent tax credit for every gallon of ethanol blended into the motor fuel.
Denatured ethanol for January delivery declined 1.1 cents, or 0.5 percent, to $2.10 a gallon at 10:35 a.m. New York time on the Chicago Board of Trade, the lowest price since Dec. 9, 2010. Futures have fallen 12 percent this year.
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