Dinneen: Oil firms' refusal to shift to E15 is behind RIN price rise

03/17/2013 | New York Times (tiered subscription model), The

The increased price of ethanol Renewable Identification Numbers is driving up retail gasoline prices because refiners pass on to consumers the added cost of RINs, or they ramp up gasoline exports to avoid meeting their obligations under the Renewable Fuel Standard, analysts say. However, Renewable Fuels Association President and CEO Bob Dinneen says oil companies' refusal to invest in more E15 or E85 is behind the surge in RIN prices. "When I see volatility like that in any market, it's not market fundamentals at work, it's probably something else altogether," Dinneen said.

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