EPA launches final analysis on the price of RINs and small refineries

In Washington, the Environmental Protection Agency announced its final analysis of the price of RINs and small refineries. This analysis is issued in response to a recommendation in the U.S. Government Accountability Office’s (GAO) November 2022 report on EPA’s Small Refinery Exemption (SRE) Program (“GAO Report”). In the GAO Report, it was recommended that “the Administrator of EPA should reassess EPA’s conclusion that all small refineries recover their RFS compliance costs in the price of the gasoline and diesel they sell, including by fully examining and documenting RIN market performance and RIN pass-through in all relevant fuel markets.” EPA’s final analysis, “An Analysis of the Price of Renewable Identification Numbers (RINs) and Small Refineries,” resolves this recommendation and confirms EPA’s preliminary results from its initial analysis and explanation provided to GAO, which is included in Appendix IV of the GAO Report.