PSX · 10-Q · 2026Q2 · Full report

Renewable Fuels Profitability

Phillips 66 · 2026-08-05 · Importance 57 · Surprise 64

Renewable Fuels segment results improved $677 million in the second quarter and $821 million in the first six months of 2026. The improvement was primarily attributable to higher values of regulatory credits. The California Low-Carbon Fuel Standard credit increased to $68.65 per metric ton in the second quarter from $52.33, while the biodiesel Renewable Identification Number increased to $2.12 per RIN from $1.08. The segment nevertheless reported a before-tax loss of $133 million in the second quarter and $318 million in the first six months.

Key facts

• Results from the Renewable Fuels segment increased $677 million and $821 million for the three and six months ended June 30, 2026, respectively, primarily due to higher values of regulatory credits. source