RIN PRICES FOR ETHANOL AND BIODIESEL REMAIN HIGH AS DOES SPOT PRICING FOR BIODIESEL

So far this year, RINs generated by biodiesel and renewable diesel production, peaked on April 28 at $1.91 per gallon (gal), and RINs generated by ethanol peaked on June 7 at $1.68/gal, close to the high prices seen in 2021. Also, at its peak on April 28, the U.S. Gulf Coast spot price for biodiesel reached $8.36/gal. Even when accounting for a $1.00/gal biodiesel tax credit that blenders receive for blending biodiesel, biodiesel spot prices were more than $3.00/gal more expensive than the $4.30/gal U.S. Gulf Coast spot price for ultra-low sulfur diesel.

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