Late renewable fuel regulations add to industry uncertainty and of course price increase.
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A Government Accountability Office (GAO) report released Monday said when the Environmental Protection Agency’s (EPA) is late in issuing its annual Renewable Fuel Standards (RFS) it increases costs for refiners.
The RFS each year sets the amount of biofuels refiners must blend into the nation’s fuel supply. The standards have contributed to declining petroleum consumption while increasing costs, according to the report.
The GAO report looked at three major changes that have affected the domestic petroleum, or gasoline, refining industry, a key one being the EPA’s renewable fuel mandate.