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
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(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   400 D $ 0.567 966,070 D  
Common Stock 07/01/2010   S   400 D $ 0.57 965,670 D  
Common Stock 07/01/2010   S   400 D $ 0.5701 965,270 D  
Common Stock 07/01/2010   S   100 D $ 0.5702 965,170 D  
Common Stock 07/01/2010   S   1,800 D $ 0.5749 963,370 D  
Common Stock 07/01/2010   S   1,500 D $ 0.575 961,870 D  
Common Stock 07/01/2010   S   700 D $ 0.5751 961,170 D  
Common Stock 07/01/2010   S   100 D $ 0.5761 961,070 D  
Common Stock 07/01/2010   S   200 D $ 0.5772 960,870 D  
Common Stock 07/01/2010   S   400 D $ 0.58 960,470 D  
Common Stock 07/01/2010   S   200 D $ 0.5819 960,270 D  
Common Stock 07/01/2010   S   800 D $ 0.582 959,470 D  
Common Stock 07/01/2010   S   886 D $ 0.584 958,584 D  
Common Stock 07/01/2010   S   1,400 D $ 0.5899 957,184 D  
Common Stock 07/01/2010   S   1,100 D $ 0.59 956,084 D  
Common Stock 07/01/2010   S   700 D $ 0.6 955,384 D  
Common Stock 07/01/2010   S   700 D $ 0.6001 954,684 D  
Common Stock 07/01/2010   S   500 D $ 0.6002 954,184 D  
Common Stock 07/01/2010   S   300 D $ 0.6006 953,884 D  
Common Stock 07/01/2010   S   300 D $ 0.6021 953,584 D  
Common Stock 07/01/2010   S   200 D $ 0.6108 953,384 D  
Common Stock 07/01/2010   S   1,000 D $ 0.6109 952,384 D  
Common Stock 07/01/2010   S   700 D $ 0.612 951,684 D  
Common Stock 07/01/2010   S   700 D $ 0.613 950,984 D  
Common Stock 07/01/2010   S   1,000 D $ 0.6131 949,984 D  
Common Stock 07/01/2010   S   1,000 D $ 0.619 948,984 D  
Common Stock 07/01/2010   S   200 D $ 0.6195 948,784 D  
Common Stock 07/01/2010   S   300 D $ 0.62 948,484 D  
Common Stock 07/01/2010   S   700 D $ 0.6219 947,784 D  
Common Stock 07/01/2010   S   1,500 D $ 0.63 946,284 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 4 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.