Weekly LCFS credit prices declined last week even as total volumes were sharply higher over the same period. Credit transactions during the week ending June 12 totaled 753,417, up from 283,036 the week prior.
LCFS credit prices ranged from $60.50 to $93 last week. The average price paid per credit was down $0.57 to $81.72, while the average value of a spot market trade was down $0.09 to $82.63. The average spot market price is $0.91 above the average price for all trades. This is significant, as it is the 10th consecutive week the average weekly spot price closed above the average contracted price. June of 2020 was the last time this occurred, and it likely indicates LCFS credit prices have reached a near-term bottom.
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