Credit prices under the federal Clean Fuel Regulations (CFR) have risen sharply since the market opened. For fuel suppliers, credit generators and investors, the obvious question is where prices go next. Short-term swings can make the market look unpredictable, but over time the CFR price will come back to a few economic fundamentals: The cost of compliance actions and policy interaction. This blog explains what sets the CFR price today, how it responds when other policies change, what could put pressure on it in the long term, and how the outcome of the October 24th BC election could affect it.