# Shifting incentives bring uncertainty, limit liquidity in spot California R99
markets | Argus Media

> California spot renewable diesel (R99) cash prices hit record lows in August, reaching $2.35 a gallon at the Los Angeles pipeline head on August 6. Vessel deliveries to northern California were the second highest in Argus history, at about 741,000 barrels in August. Changing credit eligibility under state incentive programs adds uncertainty to future import volumes.

- Date: 2024-08-29 · published 2024-08-29T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/29003-shifting-incentives-bring-uncertainty-limit-liquidity-in-spot-california-r99
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Possible changes to California credit eligibility could cut renewable diesel imports and shift demand for soybean oil and canola oil feedstocks. Weak RD prices in the meantime pressure the diesel complex.

## Read by commodity

- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2023-09-11 | [The Squeeze on California Gasoline Marketers and the RIN Cliff - DTN](https://feedsoft.ai/events/15276-the-squeeze-on-california-gasoline-marketers-and-the-rin-cliff-dtn.md) | +2.4% | -11.5% |
| DIESEL | 2022-12-20 | [EPA's 'Set Rule' Drives Volatility in Renewable Diesel Margins \| Aegis Market Insights](https://feedsoft.ai/events/15352-epa-s-set-rule-drives-volatility-in-renewable-diesel-margins-aegis-market.md) | +9.6% | +11.0% |
| DIESEL | 2021-03-02 | [Brazilian stocks, currency fall as tax hikes spook investors - Markets - Business Recorder](https://feedsoft.ai/events/12206-brazilian-stocks-currency-fall-as-tax-hikes-spook-investors-markets-business.md) | +4.7% | -0.7% |
| DIESEL | 2026-03-23 | [U.S. to bring more diesel to market to address fuel prices: Wright](https://feedsoft.ai/events/20339-u-s-to-bring-more-diesel-to-market-to-address-fuel-prices-wright.md) | -2.4% | -23.4% |
| DIESEL | 2021-11-24 | [Reserve oil being released into market that may have peaked - FreightWaves](https://feedsoft.ai/events/7076-reserve-oil-being-released-into-market-that-may-have-peaked-freightwaves.md) | -13.2% | -3.3% |

## Sources

- argusmedia.com: https://www.argusmedia.com/en/news-and-insights/market-opinion-and-analysis-blog/shifting-incentives-bring-uncertainty-limit-liquidity-in-spot-california-r99-markets

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.