US EPA to extend renewable fuel standard compliance deadline for refiners

Under the Renewable Fuel Standard, a federal program aimed at increasing renewable fuel usage, refiners were required to show they had met their 2025 biofuel blending mandates by September 1, either by generating Renewable Identification Numbers (RINs) through blending biofuels into the nation's fuel supply or by purchasing those credits from other market participants.

An extension would give refiners more time to meet their obligations and could help them manage high RIN prices, which have raised compliance costs for some companies. Two sources familiar with the matter said the agency was considering between a 30- and 90-day extension.

The multibillion-dollar RIN market is a key component of the biofuel program and a major source of uncertainty for refiners. For years, farmers, ethanol makers and green fuel proponents have been pushing for higher blending quotas, while small refiners have resisted the push.