| 
               Date
                of Report (Date of earliest event reported) 
             | 
            
                                    March
                1,
                2007                       
             | 
          ||
| 
               | 
          |||
| 
               PACIFIC
                ETHANOL, INC. 
             | 
          |||
| 
               (Exact
                name of registrant as specified in its charter) 
             | 
          |||
| 
               Delaware 
             | 
            
               000-21467 
             | 
            
               41-2170618 
             | 
          |||
| 
               (State
                or other jurisdiction 
              of
                incorporation) 
             | 
            
               (Commission
                File Number) 
             | 
            
               (IRS
                Employer 
              Identification
                No.) 
             | 
          |||
| 
               400
                  Capitol Mall, Suite 2060 
                Sacramento,
                  California 
               | 
            
               95814 
             | 
          |||
| 
               (Address
                of principal executive offices) 
             | 
            
               (Zip
                Code) 
             | 
          |||
| 
               Registrant’s
                telephone number, including area code: 
             | 
            
               (916)
                  403-2123 
               | 
          ||
| 
               | 
          |||
| 
               (Former
                name or former address, if changed since last
                report) 
             | 
          |||
| (a) | 
                     Financial
                      Statements of Businesses Acquired. 
                   | 
                
| (b) | 
                     Pro
                      Forma Financial Information. 
                   | 
                
| (c) | 
                     Exhibits. 
                   | 
                
| 
                     Number 
                   | 
                  
                     Description 
                   | 
                
| 99.1 | 
                     Press
                      Release dated March 1, 2007 (*) 
                   | 
                
| 99.2 | 
                     Press
                      Release dated March 2, 2007 
                   | 
                
| 
                       Date:
                        March 2, 2007 
                     | 
                    
                       PACIFIC
                        ETHANOL, INC. 
                     | 
                  
| 
                     Number 
                   | 
                  
                     Description 
                   | 
                
| 99.2 | 
                     Press
                      Release dated March 2, 2007 
                   |