Current-year biodiesel Renewable Identification Numbers on Thursday were assessed at their lowest level in more than two years as news from Washington continues to roil the RINs markets.
S&P Global Platts assessed D4 biodiesel RINs for 2018 at 64 cents/RIN, down 5.25 cents on the day. That's the lowest level for a then-current year RIN since November 17, 2015, when the 2015 D4 RIN was assessed at 63.75 cents/RIN.
RINs prices have plummeted across the board since February 22 when news emerged that the Trump administration, lawmakers, and interests from the agricultural and oil industries were looking for ways to change the government's Renewable Fuel Standard. Market participants worry that any changes into the regulation would decrease demand for RINs and associated biofuels.
D4 RINs prices have fallen 20 cents since February 22.
Biodiesel RINs also fell on news late last week that Congress didn't include a key tax credit sought by the biodiesel industry in its recent omnibus spending bill.
