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   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

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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 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.

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