Weekly LCFS credit volume increased slightly last week, as credit prices continued to move lower. Volume is expected to decline into February and rise moving into the quarterly close at the end of March.
LCFS transaction volume reached 1.05 million contracts during the week ending January 28, 2024, four percent above last week’s volume and 35 percent above the 780,056 credits transacted last year. Additionally, credit volume was 23 percent below the prior four-week average of 1.4 million.
The average price paid per credit fell $2.92 to $65.35, which is the lowest recorded level since May 2016 when CARB began disseminating the weekly average price. The average price of a spot market trade tumbled $4.56 to $60.22, the lowest recorded level since CARB began providing spot market pricing. The average spot market price remains below the average price for all trades this week, suggesting market prices could continue to decline.
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