Q1 RIN prices saw biggest quarterly loss in a year

In New York state, Reuters reports that continued uncertainty about the future of the Renewable Fuel Standard forced RIN prices down to their biggest quarterly loss in a year with Oil Price Information Service data showing a range of 72 cents as a high on January 2 to a low of 35 cents in mid-March, closing out Q1 at 44.5 cents. President Trump has decided to leave RFS reform to Congress rather than continue to try to broker a deal or to reform via executive order. On Tuesday, prices fell to 38 cents after the Environmental Protection Agency granted Andeavor a small refinery exception.