Global energy and commodity price reporting agency Argus has launched 30 new daily renewable feedstock price assessments in the US, reflecting the growing importance of environmentally friendly fuels for the transportation sector.
The new prices, published daily in the Argus America Biofuels report, are based on waste products including used cooking oil, poultry fat, tallow, choice white grease and yellow grease. A full list of the new prices and locations can be found here.
These feedstocks are used to produce renewable diesel, which meets the specifications of petroleum-based diesel but with far fewer carbon emissions.
Regulations in many US states, such as California’s Low Carbon Fuel Standards, require the transportation sector to reduce greenhouse gas emissions. In response, the country’s leading refiners are expanding renewable diesel production capacity — Phillips 66 announced plans last month to convert its San Francisco refinery to 100pc renewables.
Argus Media chairman and chief executive Adrian Binks said: “As economies around the world look for alternatives to fossil fuels, Argus is pleased to play a key role in the adoption of renewables by bringing transparency to the emerging market.”