RFS: RIN Generation Mar '25 Highlights
I hope everyone got some nice weather combined with a 3-day weekend or are currently on Spring Break. We had some nice weather here in SF but did hit a bump in the road as one member of the ‘CA Trio’ got her EpiPen out and stabbed a 3-year old with it at preschool. Luckily that 3-year old was also a member of the ‘CA Trio’ (her brother), not some other kid. No major issues outside of the typical multiple conversations w/ poison control and quick visit to the ER (thank you for subscribing). It’s a nice story to tell over-and-over again in the years to come at Thanksgiving.
Before we get into the data, if you haven’t done so please read last months Highlights. I have received really good feedback from folks as it goes into detail on how RFS actually works in the simplest way possible.
March Gross RIN Generation
RIN generation in March increased to 1.82 billion RINs, a rise over Feb RIN generation.
D3 RIN gen: 8.7 million vs 82.8 million in Feb ‘25 (Feb revised up again)
D4 RIN gen: 573 million vs 450 million in Feb ‘25
D5 RIN gen: 25 million vs 24 million in Feb ‘25
D6 RIN gen: 1,214 million vs 1,120 million in Feb ‘25
Total RIN gen: 1,821 million vs 1,677 million in Feb ‘25
RIN generation in March dropped by the largest amount on a YoY percentage basis in the past decade, dropping 5.5% vs March 2024.
Same ol’ D3 (Sorta), D5, D6 RIN Generation
Reporting D3 RIN generation has taken a slight change in 2025 as prior reported months keep getting revised much higher than originally reported as was the case for Jan/Feb. This will likely be the case for March but we will see if this phenomena continues throughout 2025. Good to see Cellulosic Ethanol slightly increasing.
