(a) The standard credit averaging periods are the calendar years beginning January 1, 2011, or beginning January 1, 2015 for small refiners approved under §80.1340.
(b) [Reserved]
(c)
(1) The number of standard benzene credits generated shall be calculated annually for each applicable averaging period according to the following equation:
Where:
SCy = Standard credits generated in year y (gallons benzene).
Bavg,y = Annual average benzene concentration for year y (volume percent benzene), per §80.1238.
Vy = Total volume of gasoline produced or imported in year y (gallons).
(2) No credits shall be generated unless the value SCy is positive.
(d) Standard benzene credits calculated in accordance with paragraph (c) of this section shall be expressed to the nearest gallon. Fractional values shall be rounded down if less than 0.50, and rounded up if greater than or equal to 0.50.
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