Market Brief
Friday, October 23, 2026West Coast hydrogen markets

Toyota, NLR Demonstrate 8-Minute Hydrogen Truck Fueling

Few items this week touch California or West Coast stations directly, so the picks lean on heavy-duty fueling, US industry moves and policy abroad.

By PACC Services market desk · Readings as of Oct 19 · 1 min read

Prices at a glance

Some series haven't published newer data yet.

Market and sourcePrice and change
California
Diesel
EIA retail · Week of Oct 19
$8.24/gal
▲ $0.15/gal
vs. prior reading
+68% vs. last year
Natural gas, California citygate
EIA monthly average · July
$2.98/Mcf
▲ $0.31/Mcf
vs. prior reading
LCFS credit
CARB weekly average, Type 1 transfers · Data as of Sep 14
$84.38/MT
▲ $0.42/MT
vs. prior reading
Range $79.75 to $85.25/MT
Cap and Invest allowance
Quarterly joint auction with Québec · August (auction 48)
$32.48 per allowance
▲ $3.67 per allowance
vs. prior auction (May)
Pacific Northwest
Diesel
EIA West Coast excluding California · Week of Oct 19
$6.66/gal
▲ $0.16/gal
vs. prior reading
+$2.65 vs. last year
Oregon CFP credit
DEQ monthly average · September
$136.55/MT
▼ $10.12/MT
vs. prior reading
Washington CFS credit
Ecology monthly average · Data as of August
$75.93/MT
▲ $9.39/MT
vs. prior reading
Washington Cap and Invest allowance
Quarterly auction · Sep 2 (auction 15)
$39.50 per allowance
▼ $25.06 per allowance
vs. prior auction (Jun)
Floor price $27.92 per allowance
Wholesale power
NP15 (Northern California)
Day ahead on peak, weekly average · Week of Oct 12
$43.52/MWh
▼ $19.53/MWh
vs. prior reading
SP15 (Southern California)
Day ahead on peak, weekly average · Week of Oct 12
$34.07/MWh
▼ $29.10/MWh
vs. prior reading
Mid-C (Pacific Northwest)
ICE via EIA, day ahead on peak, weekly average · Week of Oct 5
$51.09/MWh
▼ $1.01/MWh
vs. prior reading
National benchmarks
U.S. diesel
EIA retail · Week of Oct 19
$6.28/gal
▲ $0.10/gal
vs. prior reading
Henry Hub spot
EIA spot price · Data as of Oct 9
$3.10/MMBtu
▲ $0.05/MMBtu
vs. prior reading

PACC perspective

California diesel is $8.242/gal, up $0.151 on the week and 68% above a year earlier, which keeps the cost gap with diesel in view. Power prices fell sharply in Northern and Southern California, and the Washington Cap and Invest allowance dropped to $39.50 at the Sep 2 auction.

Stories worth your time

The EV Report · Oct 20

Toyota, NLR Demonstrate 8-Minute Hydrogen Truck Fueling

Toyota and NLR demonstrated 8-minute hydrogen fueling for a truck, according to The EV Report. Read →

Commercial Motor · Oct 20

Hydrogen truck group calls for guaranteed cost parity with diesel

A hydrogen truck group is calling for guaranteed cost parity with diesel, according to Commercial Motor. Read →

Automotive News · Oct 19

GM to close battery plant, repurpose hydrogen plant in Detroit

GM will close a battery plant and repurpose a hydrogen plant in Detroit, Automotive News reports. Read →

Department of Energy (.gov) · Oct 16

March H2IQ Hour: Hydrogen Fuel Dispensing for Medium- and Heavy-Duty Vehicles

A Department of Energy H2IQ Hour session covers hydrogen fuel dispensing for medium- and heavy-duty vehicles. Read →

Summaries written by PACC.

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Market Brief is published every Friday by PACC Services.

Sources: U.S. Energy Information Administration (diesel, Henry Hub spot and California citygate gas), California Air Resources Board (LCFS credit transfer reports and Cap and Invest auctions), Oregon Department of Environmental Quality (Clean Fuels Program), Washington Department of Ecology (Clean Fuel Standard and Cap-and-Invest auctions), California Independent System Operator (NP15 and SP15 day-ahead power prices), Intercontinental Exchange via the U.S. Energy Information Administration (Mid-C day-ahead power prices). Story summaries are written by PACC; follow the links for the full articles.

This brief is provided for information only and is not investment, legal or tax advice. PACC Services makes no warranty as to the accuracy or completeness of third party data.

PACC Services LLC, 30 N Gould St, Ste R, Sheridan, WY 82801

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