W|Carbon: Low Carbon Fuel Credits Refresh - July 2025
CA, OR, & WA Market Color, Fuel Credit Prices, & Volumes Updates
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Table of Contents
Key Takeaways 2
California LCFS Credit Price/Volume Update 4
Oregon CFS Credit Price/Volume Update 6
Washington CFS Credit Price/Volume Update 8
Contact Information & Disclosures 11
Key Takeaways (Abridged)
California Credit Prices Drop To Decade Low, Oregon Prices Drop 12%, Washington’s Rise 7%
California: Average monthly LCFS credit prices fell further to $49 per metric ton in June, marking a decade low and declining from May’s average of $58. Credit volumes also dropped sharply by 32% month-over-month to 3.978 million metric tons in June, down from 5.826 million in May. Year-over-year, June prices were 3.9% lower than June 2024’s $51 per metric ton, though this follows a relatively stable period compared to the steep declines seen since 2021. In early July, weekly prices have...
Oregon: Average monthly CFP credit prices fell 12% in June to $57.23 per metric ton, down from May’s 2025 high of $65.35, after two months of gains that followed March’s low of $43.00. Year-over-year, June’s price was 20% lower than June 2024’s $71.22, although May prices had been 16% higher year-over-year at $65.35 versus $56.30 in May 2024. Credit volumes...
Washington: CFS credit prices rebounded 7% in June to $27.56/MT but remain well below last year’s levels, with June prices down 32% y/y. Credit volumes...
W|Carbon Analysis: LCFS markets saw broad credit price declines in June, with California hitting a decade low at $49/MT amid falling volumes, though new CI rules could...
For access information, contact info@webberresearch.com or Webber Research Institutional Sales at walter.lobo@webberresearch.com or Subscribe below: