Prices for renewable identification numbers (RINs) fell week on week on Friday October 18 despite lower production reported for September, and US biofuels markets remain in limbo over awaited tax credit guidance.
Biomass-based diesel (D4) RINs closed at 70.375 cents per credit on Friday, down by nearly 1 cent per credit week on week. D4 RINs were at parity with category D6 RINs for a second consecutive week, as the normally higher-valued D4 has already been overproduced for the year by 135% of the 2024 mandate.
Production and imports of sustainable aviation fuel (SAF) complicated the already oversupplied D4 RINs. SAF accounted for a record high 5% of all D4 RINs produced in September. During the first three quarters of the year, SAF accounted for 2.5% of all D4 RINs.
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