The RFS renewable volume obligations (RVOs) issued by the EPA provide percentage standards applied to the initial mandated forecast at that time of release. The percentage standards translate into volumes based on the estimated consumption forecast. The actual RVOs become known over time but use the same percentage standards applied to the original mandate, which created the initial volume expectations.
Reviewing the February STEO and applying the appropriate percentage standards, 2023 gasoline consumption has fallen below the original volume estimate and has lowered the implied ethanol mandate from 15 billion gallons to 14.94 billion gallons. This is above last month’s projection of 14.90 billion gallons.
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12.12.2024
California LCFS credit volumes rise, prices fall week on week
California Low Carbon Fuel Standard (LCFS) credit volumes were up sharply while the average credit price declined in the week ended Sunday December 8, figures released on Wednesday December...
12.12.2024
Grease prices continue to soften while Gulf UCO trades stable to higher
The US animal fats and oils markets continued to show mixed dynamics on Thursday December 12, with tallow markets remaining notably quiet while grease prices continued to soften across...
12.12.2024
Looming port strike adds negative price risk to animal protein markets: sources
Negative sentiment continued to hang over the meat and bone meal (MBM) markets on Thursday December 12, although trading reports were limited throughout the day.
Much of the...