FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
Jones William L
   2. Issuer Name and Ticker or Trading Symbol
Pacific Ethanol, Inc. [PEIX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
400 CAPITOL MALL, #2060		 3. Date of Earliest Transaction (Month/Day/Year)
07/01/2010
(Street)

SACRAMENTO, CA 95814		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/01/2010   S   900 D $ 0.5544 986,470 D  
Common Stock 07/01/2010   S   600 D $ 0.5545 985,870 D  
Common Stock 07/01/2010   S   1,200 D $ 0.5549 984,670 D  
Common Stock 07/01/2010   S   1,000 D $ 0.555 983,670 D  
Common Stock 07/01/2010   S   700 D $ 0.5551 982,970 D  
Common Stock 07/01/2010   S   400 D $ 0.5553 982,570 D  
Common Stock 07/01/2010   S   800 D $ 0.5554 981,770 D  
Common Stock 07/01/2010   S   100 D $ 0.5555 981,670 D  
Common Stock 07/01/2010   S   200 D $ 0.5563 981,470 D  
Common Stock 07/01/2010   S   200 D $ 0.5572 981,270 D  
Common Stock 07/01/2010   S   400 D $ 0.5575 980,870 D  
Common Stock 07/01/2010   S   800 D $ 0.5579 980,070 D  
Common Stock 07/01/2010   S   100 D $ 0.5582 979,970 D  
Common Stock 07/01/2010   S   1,300 D $ 0.5585 978,670 D  
Common Stock 07/01/2010   S   1,100 D $ 0.559 977,570 D  
Common Stock 07/01/2010   S   2,000 D $ 0.5595 975,570 D  
Common Stock 07/01/2010   S   600 D $ 0.5596 974,970 D  
Common Stock 07/01/2010   S   400 D $ 0.5598 974,570 D  
Common Stock 07/01/2010   S   1,300 D $ 0.5599 973,270 D  
Common Stock 07/01/2010   S   800 D $ 0.56 972,470 D  
Common Stock 07/01/2010   S   600 D $ 0.5601 971,870 D  
Common Stock 07/01/2010   S   100 D $ 0.5602 971,770 D  
Common Stock 07/01/2010   S   1,000 D $ 0.5605 970,770 D  
Common Stock 07/01/2010   S   1,800 D $ 0.5623 968,970 D  
Common Stock 07/01/2010   S   600 D $ 0.564 968,370 D  
Common Stock 07/01/2010   S   100 D $ 0.5641 968,270 D  
Common Stock 07/01/2010   S   200 D $ 0.5645 968,070 D  
Common Stock 07/01/2010   S   200 D $ 0.565 967,870 D  
Common Stock 07/01/2010   S   1,000 D $ 0.5653 966,870 D  
Common Stock 07/01/2010   S   400 D $ 0.566 966,470 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Jones William L
400 CAPITOL MALL, #2060
SACRAMENTO, CA 95814		   X      

Signatures

 /s/ William L. Jones   07/02/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
This is Part 3 of 5. There are more than 30 transactions to report.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.