Renewable fuels can help to reduce carbon emissions from transportation. To inform planning decisions, this paper estimates carbon abatement costs of replacing fossil fuels with renewable hydrogen, ammonia, or Fischer–Tropsch e-fuel in Norwegian freight transport across long-haul trucking, short-sea shipping, and medium-haul aviation. We do this by applying a holistic cost model of renewable fuel value chains. We compare abatement costs across transport sectors and analyze how policy interventions along the value chains – such as carbon pricing, subsidies, and de-risking policies – impact carbon abatement costs. We estimate abatement costs of 793–1,598 €/tCO2 in 2020 and -11–675 €/tCO2 in 2050, depending on the electricity source, transport sector, and type of fuel. A 1 €/kg reduction in the cost of hydrogen - e.g. through a subsidy - lowers present-day carbon abatement cost by 95 €/tCO2 for hydrogen-powered trucking, 133 €/tCO2 for e-fuel-powered shipping, and 143 €/tCO2 for e-fuel-powered aviation. We further show that reductions in the weighted average cost of capital materially decrease abatement cost, particularly for renewable hydrogen due to its relative capital intensity.