It's a myth that the increased value of ethanol Renewable Identification Numbers is driving up gasoline prices at the pump, according to an analysis by Jim Lane. A reasonable estimate shows that ethanol RIN prices accounted for just seven-tenths of a cent of the 43-cent rise in wholesale gasoline prices from January to February, Lane notes. "Over the past six months, the average [wholesale] price [of gasoline] has fluctuated $0.21 per month. ... In other words, you wouldn't even notice seven-tenths of a cent; it is buried beneath ordinary gasoline price volatility," Lane states.
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