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

Toyota fuels a hydrogen truck in 8 minutes as a truck group seeks cost parity with diesel

Heavy-duty fueling and truck-cost stories lead the week, with Toyota's refueling tests and a truck group's call for diesel cost parity. California diesel is $8.242/gal, up 68% on a year earlier.

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

Hydrogen this week · California

65.4%
Station availability
Oct 13–19 · vs 66.0% prior
37 of 53
Stations usable
Typical day
$25.99
Median pump price
Per kg · 38 reporting
Sep 15H70 usable % · green = this week66% · Oct 19

H2FCP station status, sampled every 15 minutes, via narduk-data.

Prices at a glance

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 · Week of Oct 12
$89.01/MT
▲ $6.44/MT
vs. prior reading
Range $85.00 to $91.25/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
+66% 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 · September
$73.44/MT
▼ $2.49/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 · Week ending Oct 16
$3.20/MMBtu
▲ $0.10/MMBtu
vs. prior reading

PACC perspective

Wholesale power in Southern California fell 46.1% week on week, and Washington's Cap and Invest allowance price fell 38.8% against the June 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 truck fueling. Read →

Commercial Carrier Journal · Oct 21

Toyota Hydrogen Trucks Hit Refueling Milestone Before 2027 Launch

Toyota's hydrogen trucks have reached a refueling milestone ahead of a 2027 launch, according to Commercial Carrier Journal. Read →

Fuel Cells Works · Oct 20

Toyota Achieves Heavy-Duty Hydrogen Truck Milestones

Toyota has reached heavy-duty hydrogen truck milestones, per Fuel Cells Works. 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. Read →

Summaries written by PACC.

Want to see what these numbers mean for your fleet or site? Get in touch and we’ll run the comparison with you.

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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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