PSX · 10-Q · 2026Q2 · Full report

Renewable Fuel Compliance Costs

Phillips 66 · 2026-08-05 · Importance 65 · Surprise 82

Phillips 66 incurred $269 million during the six months ended June 30, 2026, to purchase Renewable Identification Numbers in the open market for its wholly owned refineries’ Renewable Fuel Standard obligations. The company incurred no comparable open-market RIN expense during the six months ended June 30, 2025, when it primarily met obligations through renewable-fuel blending and production at the Rodeo Complex. RIN costs vary with market prices, refinery and renewable-fuels production, blending activity and renewable-volume-obligation requirements. The change reflects a material increase in compliance costs associated with the federal RFS.

Key facts

• For the six months ended June 30, 2026 we incurred expenses of $269 million associated with our obligation to purchase RINs in the open market to comply with the Renewable Fuel Standard (RFS) for our wholly owned refineries. source
• Our share of expenses associated with the purchase of RINs for jointly owned refineries prior to the acquisition of WRB was $175 million for the six months ended June 30, 2025. source
• For the six months ended June 30, 2025 we incurred no expenses to purchase RINs in the open market to comply with RFS for our wholly owned refineries. source