Science & Environment

Biofuel credit proceed free fall in wake of refiner settlement: merchants

NEW YORK (Reuters) – Renewable gasoline credit for 2018 continued their sharp decline on Tuesday after the U.S. Environmental Safety Company granted a bankrupt Philadelphia refiner important reduction from its biofuel obligations.

Costs for renewable gasoline (D6) credit for 2018 traded at 35 cents on Tuesday morning, merchants stated, down from 38.5 cents on Monday and roughly 40 p.c decrease than simply two weeks in the past.

The EPA and the Carlyle Group-backed Philadelphia Power Options refinery agreed on Monday that the refiner must fulfill solely roughly half of its $350 million price of excellent compliance obligations underneath the U.S. Renewable Gasoline Normal.

Reporting By Jarrett Renshaw; Modifying by Chizu Nomiyama

Yasir Ali
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