11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
Petitions for prior year small refinery exemptions (SRE) under the Renewable Fuel Standard (RFS) continued to grow during July on the Environmental Protection Agency (EPA) RFS Small Refinery Exemptions dashboard. Six new petitions were received, one for each year between 2011 and 2017. This brings total prior year SRE petitions to 58. There are also 27 petition requests for 2019 and one for 2020.
Prior year exemptions were unheard of until this year. Up until June there had been zero prior year petitions posted on the EPA dashboard. It remains unclear if requesting prior year exemptions is even possible. The EPA cites on its dashboard that “Beginning with the 2013 compliance year, small refineries may petition EPA annually for an exemption from their RFS obligations. EPA may grant the extension if it…