RIN prices tumbled to the lowest levels in over four and a half years as robust January D4 production and expanding renewable diesel capacity drove heavy selling.
The February 15 release of January 2024 RIN generation showed 1.89 billion credits generated, down 16% from the previous month’s record of 2.17 billion credits but up nearly 8% on prior year levels.
Margins failed to keep pace as diesel strength sputtered out in the second week of February and losses in RIN markets failed to abate.