NEW YORK (DTN) -- The Energy Information Administration said Monday it now considers ethanol blending a proxy or metric for determining gasoline demand.
Traditionally, EIA uses average daily product supplied to determine implied demand of gasoline in the United States. This is usually calculated from weekly and monthly data on refinery operations and changes in product inventories at refineries and terminals.
The problem with this data is its timing and the fact that it doesn't reflect weekly exports, which are usually unavailable when EIA energy experts are doing their weekly analysis.
A lack of weekly export data can sometimes skew ...