Renewable Fuel Standard Program

Renewable Identification Number (RIN) Analysis for Renewable Fuel Standard Program

This section provides RIN market analysis.

A Preliminary Assessment of RIN Market Dynamics, RIN Prices, and Their Effects (May 14, 2015)

In 2013 the price of renewable identification numbers (RINs) for renewable fuels generated under the Renewable Fuel Standard (RFS) program increased significantly. This document examines available data in an attempt to describe and explain the factors that caused this increase in the price of one variety of renewable fuel (D6) RINs, and the impact this increase in RIN prices may have had on retail fuel prices. We also examine the impact of high RIN prices on merchant refiners (i.e. refiners who do not blend the majority of the petroleum products they produce with renewable fuels), some of whom argue that they are disadvantaged relative to integrated refiners (i.e. refiners who blend a volume of petroleum products with renewable fuels greater than or equal to the volume of petroleum products they produce) by high RIN prices.