Sen. Grassley: Speculators are driving up the price of RINs

03/27/2013 | Reuters

Speculators are behind the recent surge in Renewable Identification Number prices, said Sen. Chuck Grassley, R-Iowa. RIN prices climbed from about 1 cent per gallon of ethanol in December to more than $1 earlier this month. "That's quite a rise. It doesn't seem to me that's the marketplace," said Grassley, adding that market regulators should investigate the matter.

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