Benzene Averaging, Banking, and Trading (ABT) Credit Data
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Overview of Fuels ABT Program
EPA created two separate ABT programs specific to sulfur and benzene under the federal gasoline regulations. Gasoline refiners and importers may generate compliance credits for use or trading based on requirements and standards described in 40 CFR part 80. This allows refiners to meet requirements by producing gasoline that meets the specifications or by trading credits for use with other refiners, so that collectively the sulfur and benzene standards are satisfied.
Benzene ABT Credit Status by Averaging Year
For the Mobile Source Air Toxics (MSAT) gasoline fuel program, beginning January 1, 2011, refiners or importers must meet an annual average gasoline benzene content standard of 0.62 volume percent (vol%) for all of their gasoline. Refiners and importers may meet the standard by using banked credits from other refineries or importers. Refineries or importers who are above the benzene standard threshold and fail to use enough credits for compliance create a benzene credit deficit. A credit deficit can be carried forward up to one compliance period. The standard provided a compliance option to refiners approved as a “small refiner” to defer meeting the 0.62 vol% threshold through the 2014 compliance period.
The table below shows the volume weighted averages (VWA) and total gasoline volumes before any benzene credits are applied for refined and imported gasoline that was above, below, or equal to the benzene standard threshold by compliance year. The total gasoline volumes and VWA are derived from refinery and importer reported values on the Benzene Annual Compliance report (RFG2000).
You can download the selected dataset to an Excel file by right-clicking the mouse inside a table and selecting the "Export" option.
Gasoline Benzene Credits and Retired Generated
Gasoline refineries and importers may generate benzene credits when their actual annual benzene concentration is less than 0.62 volume percent of benzene. The calculation below describes how benzene credits are generated. Benzene credit units are in gallons benzene. The Net Credits Generated column shows the total number of credits generated minus the number of invalid credits generated. Credit Generation Error Corrections are defined as credits that have been retired in EMTS using any of the two retirement reason codes of 'Invalid Credit' or 'Volume Error Correction'.
Gasoline refineries and importers may retire benzene credits when their actual annual benzene concentration is greater than 0.62 volume percent. Obtaining and retiring credits for compliance allows companies to meet the annual benzene standard. Typically, refiners and importers can retire credits for compliance created within the last five averaging periods.
The tables below provide summary totals of gasoline Benzene credits generated and retired in EPA’s Moderated Transaction System (EMTS):
- Table 2: Gasoline Benzene Credits generated in EMTS
- Table 3: Gasoline Benzene Credits retired for compliance in EMTS by Domestic Refiners.
- Table 4. Gasoline Benzene Credits retired for compliance in EMTS by Importers.
- Table 5. Credits retired for any reason in EMTS from credit years 2015, 2016, 2017 and 2018.