The average weekly LCFS credit price dropped to six-week low amid concerns surrounding when the more stringent benchmarks might be approved. Credit volume reached a five-week low. Transaction volume is expected to move higher over the next few weeks before accelerating to new near-term highs in October. The next LCFS reporting period ends October 2, 2023, with a publication date of October 31, 2023.

2023 LCFS credit volume is 3.98 million above 2022 volume through the same period but generating $932 million less in revenue. The average 2023 credit price of $76.30 is fifty-nine percent below the 2022 average of $121.10. LCFS credit volume continues to increase but revenue, due to deflated credit prices, continues to fall. This trend is likely to prevail through year end, making 2023 the second consecutive year of declining credit prices and revenue while credit volume increases.

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