Platts proposes new daily gasoline, diesel and jet fuel DDP Florida assessments starting April 1

Platts, part of S&P Global Commodity Insights, is proposing to launch daily assessments for gasoline, diesel, and jet fuel cargoes delivered into Florida starting April 1, 2024.

The new assessments would reflect the value of cargoes with a minimum 125,000 barrels of regular CBOB, premium CBOB, diesel and jet fuel, delivered three to 15 days forward from the date of assessment on a DDP (inside duty) basis in Port Everglades and Tampa, Florida.

The proposed new assessments are intended to provide more transparency into the emerging Florida fuels market. Florida can be supplied with fuel from the US Gulf Coast using Jones Act barges, and from the wider export market using international-flag ships.

The new assessments will reflect the most competitive cargoes of gasoline, diesel, and jet fuel delivered into Port Everglades and Tampa, respectively. Cargoes delivered to other Florida ports, or using other shipping incoterms, may be normalized for consideration in these assessments. Where relevant, information on adjacent markets may also be considered in the assessment process.

For all four products—CBOB, premium CBOB, ULSD and jet fuel—in both Port Everglades and Tampa, Platts is proposing to publish three new assessments in US cents per gallon, and their respective monthly averages:

• The outright price of the cargo.
• The differential versus the relevant NYMEX futures contract. These differentials will reference the same NYMEX futures month as the relevant prompt USGC Colonial Pipeline market.
• The spread between the outright Florida cargo assessments and the corresponding prompt cycle Colonial Pipeline assessments.

The proposed DDP Florida gasoline assessments would reflect the same Reid Vapor Pressure as the prompt Colonial Pipeline market.

Please send all comments or questions by Feb. 19, 2024 to americas_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.