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 11 by the California Air Resources Board (CARB) showed.

LCFS transaction volume totaled 1,540,517 contracts over the week, up from 685,531 contracts the week prior. The average price was $66.91 per credit, down by $3.16 per credit from $70.07 per credit the week before.

The average price of a spot market trade was $76.62 per credit, down from $76.63 per credit a week earlier.

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 into.

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