January 23, 2020

Biofuels, Policy Issues; Ag Economy; Immigration; and, USDA

Biofuels: Gasoline Prices- RINs, and Lawmakers Consider RFS

University of Illinois Agricultural Economists Scott Irwin and Darrel Good indicated yesterday at the farmdoc daily blog (β€œHigh Gasoline and Ethanol RINs Prices: Is There a Connection?”) that, β€œOn March 8 we wrote about the sharp increase in the price of ethanol (D6) RINs since the first of the year. There, we indicated that the E10 blend wall would require RINs credits to be used to meet part of the RFS mandate in 2013 and beyond, increasing the value of those RINs credits. As indicated in Figure 1, the price of 2013 (current year) vintage D6 RINs remains high. The price was quoted at $0.685 per gallon on March 21, 2013, after peaking at nearly $0.90 two weeks ago.”