Prices for 2019 D6 RINs more than double after US appeals court ruling

In New York state, Reuters reports that 2019 D6 RIN prices have more than doubled in value to 19 cents since an US appeals court told the Environmental Protection Agency to reconsider the issuance of three hardship waivers a few weeks ago, with Phillips 66 and Valero actively in the market buying credits. At the time of the court ruling on Jan 24, RINs were trading at just 9 cents each. With the EPA having nearly quadrupled the amount of waivers issued since President Trump came into office, following the court ruling it is expected that few waivers will be issued going forward, increasing demand and therefore prices for RINs.