RIN prices stronger after EPA backs down while opponents take aim at the RFS

In Washington, following a recent announcement that the EPA would reject petitions to move the Renewable Fuel Standard point of obligation and not allow renewable identification number credits for exported ethanol, RINs are trading higher and ethanol opponents have renewed efforts to characterize RINs as driving fuel prices higher. Meanwhile, some ethanol producers and marketers are taking advantage of the higher RIN values to offer denatured ethanol as low as 30 cents per gallon and E85 at 55 cents per gallon (plus tax and freight) this week.