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Renewable Fuel Standard Costs Reach Record Levels: Corn-Ethanol RINs at $1.18 per RIN



by Sutherland Asbill Brennan LLP - Washington Office

July 17, 2013

Previously published on July 10, 2013

The federal Renewable Fuel Standard (RFS) requires gasoline and diesel refiners, blenders and importers to purchase and use an ever increasing number of renewable fuel credits (known as RINs) generated by renewable fuel producers to represent volumes of specific types of renewable fuel. RIN prices have increased by more than 2,100% since the end of 2012 to $1.18 for corn-ethanol RINs, representing a cost of approximately $0.11 for every gallon of gasoline and diesel produced at present RIN prices. This year, importers and refiners of gasoline and diesel will be required to purchase and retire 13.8 billion corn-ethanol RINs, representing approximately 85% of the overall number of RINs that these parties must purchase.


 

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