Ethanol Output Up 1.4%

U.S. ethanol production last month jumped 1.4% to 895,000 barrels a day, the biggest advance in two months, according to the U.S. Department of Energy Department.

Output rose to the highest level since the week ended Feb. 4 and the gain was the largest since Jan. 14, the department said in a report released in Washington. Stockpiles grew to 19.91 million barrels, the highest level since July, 2010.

Production of conventional gasoline blended with ethanol climbed 0.9% to 4.91 million barrels a day. Refiners receive a 45-cent tax credit for every gallon of ethanol blended into the motor fuel. ◆