05.08.2024
May STEO forecast, 2024 RVOs
The Energy Information Administration’s (EIA) Short Term Energy Outlook (STEO) showed a decrease in 2024 fuel consumption estimates. This lowered renewable fuel blending estimates for the year, leading to...
**Please note – There will be no Biomass Based Diesel bulletin on March 29, 2024, in observance of Good Friday.**
**Bob Lane was out of the office today.**
California low carbon fuel standard (LCFS) credit volumes increased, as the average credit price moved higher during the week ending March 24, according to the figures from the California Air Resources Board (CARB). It is typical that trading volumes rise before the end of March just before the quarter closes.
LCFS transaction volume totaled 902,887 contracts during the period under review, up from 629,504 contracts the week prior, or more than 43%. The average price paid per credit was $67.99, up $2.60, or close to 4% from the week before. However, the average price of a spot market trade was $64.75 each, down $2.32, or 3.46%.
…