Platts proposes to launch RD99 USGC and RD99 pipeline LA and SF assessments, Aug. 3

Platts, part of S&P Global Energy, proposes to launch Renewable Diesel 99% (RD99) assessments for Los Angeles and San Francisco, including environmental attributes, and an RD99 FOB barge US Gulf Coast price assessment, effective Aug. 3, 2026.

New RD99 LA and SF assessments

Platts proposes to launch two RD99 outright assessments and two differentials to NYMEX ULSD futures, basis LA and SF. These assessments would include California cap-and-trade costs, reflecting compliance expenses under California's greenhouse gas program, as well as Low Carbon Fuel Standard deficits, reflecting costs incurred when a fuel generates a compliance obligation due to its carbon intensity.

Platts already assesses CCA and LCFS prices as follows:

Market feedback indicates that outright RD prices are commonly inclusive of attributes associated with fossil diesel.

The new assessments would consider market information reported to Platts and published as heards throughout the day, including firm bids and offers, trades, and indicative values, as well as any other data deemed relevant to the assessment process. In the absence of market indications, Platts may also take into account the Platts RD99 price assessments without attributes (LA , AAUWB00) and (SF, AAUWD00), plus the assessed CCA and LCFS values.

The daily RD99 assessments with attributes would follow the same specification as the existing RD99 West Coast assessments:

These assessments would reflect the value of fuel for delivery on the Kinder Morgan Pipeline System. Platts would assess an "any month pipeline cycle," reflecting deliveries scheduled for any cycle during the current calendar month. Shipments on the Kinder Morgan pipeline are scheduled according to cycles. There are typically four cycles per month, for a total of 48 per year. For example, cycles 1, 2, 3 and 4 are for January; cycles 5, 6, 7, and 8 are for February, etc. Each cycle lasts approximately 7.5 days.

Platts would also publish the RD prices as a differential to the NYMEX ULSD futures contract daily settle. The differential would roll from using the front-month NYMEX ULSD futures contract (AAHS001) to the second month (AAHS002) contract based on trading liquidity and market feedback. For the LA diesel differential, it typically rolls in the third week of the month, while for the SF differential, it typically rolls in the fourth week of the month.

Platts would take into account different fuel volumes, carbon intensity, delivery dates, as well as delivery by truck and rail and may normalize back to the basis specifications.

New RD99 USGC assessment

Platts also proposes to launch a daily RD99 Gulf Coast FOB barge assessment. Platts would publish the price as an outright and as a differential to NYMEX ULSD futures.

The Gulf Coast has the highest renewable diesel capacity in the US and is a key export location with increasing demand from Europe and Canada.

The RD99 USGC price assessment would reflect the specifications below:

The new assessment would exclude the D4 biomass-based diesel Renewable Identification Number, and the Clean Fuel Production Credit (45Z).

The new assessment would consider market information reported to Platts and published as heards throughout the day, including firm bids and offers, trades, and indicative values, as well as any other data deemed relevant to the assessment process.

Platts would take into account different fuel volumes, carbon intensity, delivery dates, ports as well as delivery by truck, rail or pipe and may normalize back to the basis specifications.

The NYMEX differentials would roll from the front-month (AAHS001) to the second month (AAHS002) NYMEX ULSD futures contract based on trading liquidity and market feedback.

The new RD99 assessments would reflect a 1:30 pm CST market close and follow the US publishing schedule. Platts would also publish monthly averages.

Platts currently publish daily assessments for RD99 LA (AAUWB00) and SF (AAUWD00), as well as corresponding differentials against diesel. Platts has proposed to remove the standalone CCA cost component of these two assessments; the proposal note is available here.

Please send all feedback, comments, or questions to platts_biofuels@spglobal.com and pricegroup@spglobal.com, by July 3, 2026.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.