RIN prices and generation by fuel D code

Because Renewable Identification Numbers (RINs) may be bought and sold as commodities, a secondary RIN spot market exists where RINs are traded among market participants; this enables refiners to purchase RINs from blenders and retire them to meet their obligations.

There are two fundamental drivers of RIN prices, which are the principal causes of both price volatility and periods of high RIN prices:

When renewable fuels are cheaper than conventional fuels, it becomes economically attractive for blenders to use more renewable fuel, increasing RIN supply and potentially lowering