RIN prices rising as obligated parties look to hoard

In Washington, Bloomberg reports that RIN prices are soaring, in part due to increased fuel consumption and in part due to expectations that refineries won’t be able to get out of their obligations to buy RINs. Some analysts say that may lead to RIN hoarding, which will boost RIN prices further. Ethanol production remains below last year’s levels, meaning that fewer RINs are being generated at a time when demand for the is increasing, with D6 RINs reaching the highest level since 2016 at $1.415 this week.