D6 RIN prices slip to three-month low on news of lower 2021 and 2022 RVO

In New York state, Platts reports that as a result of the news the Biden Administration is looking to reduce the biofuel blending mandate in 2021 and 2022 to support oil refiners, D6 RIN prices fell to a three-month low of $1.25, down 19.75 cents from Tuesday. The 2021 blending mandate should have been published by the end of November, but the Trump Administration kicked the decision down to the Biden Administration. As a result, the uncertainty had led to RIN prices as high as $2 each as the market waited to see what direction the new administration would take.