Platts reinstates Superfund excise tax for NYH gasoline cargo assessments from Jan. 3

Platts, part of S&P Global Commodity Insights, has reinstated the US excise tax that funds the federal Hazardous Substance Superfund, known as the petroleum Superfund tax, as part of its assessments of gasoline cargoes delivered in New York Harbor with effect from Jan. 3, 2023.

This follows a proposal published Dec. 7, 2022, available here. The proposal was followed by a decision published Dec. 14, 2022, available here.

The tax, which goes into effect Jan. 1, 2023, will be applied at a rate of $0.164/barrel (0.39 cent/gal) on domestic crude oil and imported refined products. The tax previously expired in 1995.

The only Platts assessments that will include the Superfund fee will be the New York "inside duty and RINs" gasoline cargo assessments and the corresponding Duty+RINs assessments.

In addition to the petroleum Superfund tax, these assessments include the costs of RINs credits, as well as a Harbor Maintenance Fee, Merchandising Process Fee, Spill Tax, and duty.

The following assessments will be impacted by the addition of the Superfund tax:

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