Weekly LCFS credit volume continued to follow its quarterly cyclical trend higher, as volume pushed to an 11-week high. Historical data accurately projected weekly volume would rise to 1.5 million contracts, and suggests over the next week, volume could remain on par with, or taper a bit, from current levels and is expected to remain strong through the balance of October. Second quarter 2023 LCFS data will be released October 31, 2023. The next LCFS reporting period ends January 2, 2024, and has a publication date of January 31, 2024.

2023 LCFS credit volume is 4.2 million above 2022 volume through the same period but generating $992 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 is on the rise but due to deflated prices, revenue remains at multi-year lows.

…