California Low Carbon Fuel Standard (LCFS) credit volumes declined sharply while the average credit price moved lower in the week ended Sunday May 12, according to the figures released on Tuesday May 14 by the California Air Resources Board (CARB).

LCFS transaction volume totaled 410,722 contracts over the week, down from 1,085,423 contracts the week prior. The average price paid per credit was $61.19, down from $63.04 per credit the week before. The average price of a spot market trade was $57.38 per credit, down week on week from $59.23 per credit.

There are two main credit transaction codes, labeled as Type 1 and Type 2 by the CARB. Type 1 transactions are executed within 10 days of an agreement and considered spot market trades. Type 2 transactions are executed beyond 10 days of a transfer agreement and do not provide a date the agreement was entered.

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