SUBSCRIBER NOTE: Platts to lower winter Med gasoline RVP

Following review of feedback, Platts confirms that it will change the reference maximum Reid Vapor Pressure (RVP) for winter specification gasoline in its FOB and CIF Mediterranean 10 ppm gasoline assessments from September 8, 2014.

Under the proposed change, the Premium unleaded 10 ppm FOB Mediterranean and CIF Mediterranean gasoline cargo assessments would reflect a maximum RVP of 80 kPa.

Platts first proposed the change in basis RVP level in a subscriber note published on March 17.

Platts currently reflects Premium unleaded 10 ppm FOB Mediterranean and CIF Mediterranean gasoline cargo assessments with a maximum RVP of 90 kPa in winter, with indications with a maximum 80 kPa in the Platts Market on Close assessment process normalized to reflect a maximum RVP of 90 kPa in the assessment.

Platts generally announces a phase-in period for the summer and winter grades on cargoes and barges, in which the incoming seasonal grade is given an increasing weighting in the assessment with gasoline cargoes assessed 10-25 days forward.

Platts typically reflects summer specification until October 1, after which winter grade only is reflected.

Similarly, Platts has reflected winter grade until April 1, after which summer grade only is reflected.

Based on the typical phase-in period, Platts confirms that effective September 8, 2014, Platts will start reflecting winter grade of gasoline on a prorated basis with the assessed cargo loading period being September 18 to October 3.

The winter grade reflected would have a maximum RVP of 80 kPa.

September 10 would be the first working day on which winter gasoline can be bid or offered and September 16 would be the last working day on which summer gasoline can be bid or offered.

Platts welcomes all feedback and questions to europe_products@platts.com, with a cc to pricegroup@platts.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.