Keep in mind that some ( and obviously NOT ALL..) retailers Sell their RINS and PASS THAT SAVINGS ON to the Consumer in the form of Cheaper blends of ethanol..

I would suspect that is the case in the photo above.. when you CHANGE the RINS.. CAP them.. then you remove part of the advantage price wise of a higher ethanol blend.

However, ethanol is still cheaper.. today by about $.45 per gallon.

AND if you Take the RFS away.. then corn prices will fall.. and so to will ethanol.. to a point.. unless it's totally uneconomical to produce.

my hunch is that ethanol is cheaper than Fracking Crude in tight formations though.. up to a point..

$55 Crude.. $3.50 corn.. $1.35 ethanol.. ish.. $1.80 RBOB.. something "around there.."