SUBSCRIBER NOTE: Platts plans euro, sterling equivalents for European gasoil, gasoline, jet assessments

Following industry feedback, S&P Global Platts proposes, with effect from October 2, 2017, to start publishing price assessments per liter in local currencies as conversions from Platts existing dollars per ton assessments in Northwest European barge and cargo and Mediterranean cargo markets for gasoil, gasoline, jet and ULSD.

These new values are designed to meet demand to better understand the value of these markets in local currencies within Europe, and to see these values expressed by volume, as well as mass.

Volatility in foreign exchange rates, particularly in sterling, has increased in the past year, supporting increased interest in certain local currency values.

Platts will use its existing assessments of GBP/USD and EUR/USD exchange rates to convert its existing USD/mt assessments in to GBP/liter and EUR/liter values.

The conversion factor from tons to liters for the new assessments will be as follows:

Gasoil/ULSD: 1,183 liters per ton using 0.845 kg/m3 reference density

European grade gasoline: 1,325 liters per ton using 0.755 kg/m3 reference density

Jet: 1,224 liters per ton using 0.800 kg/m3 reference density

Platts proposes the current $/mt assessments below will be published in liters from October 2:

MED Cargoes to Eur/liter: Prem Unl FOB (AAWZA00), Prem Unl CIF (AAWZB00), Jet FOB (AAIDL00), Jet CIF (AAZBN00), 10 ppm FOB (AAWYY00), 10 ppm CIF (AAWYZ00), Gasoil 0.1% FOB (AAVJI00), Gasoil 0.1% CIF (AAVJJ00)

NWE Cargoes to Eur/liter: Gasoline 10 ppm CIF (AAXFQ00), Jet FOB NWE (PJAAV00), Jet CIF NWE (PJAAU00), ULSD 10 ppm FOB (AAVBF00), ULSD 10 ppm CIF (AAVBG00), Diesel 10 ppm NWE FOB (AAWZD00), Diesel 10 ppm NWE CIF (AAWZC00), Gasoil 0.1% FOB (AAYWR00), Gasoil 0.1% CIF (AAYWS00)

Rotterdam Barges to Eur/liter: Eurobob (AAQZV00), 98 RON gasoline (AAKOD00), Premium Gasoline 10 ppm (PGABM00), Jet (PJABA00), Diesel 10 ppm (AAJUS00), Gasoil 50ppm (AAUQC00), Gasoil 0.1% (AAYWT00)

NWE Cargoes to GBP/liter: Gasoline 10 ppm CIF (AAXFQ00), Jet FOB NWE (PJAAV00), Jet CIF NWE (PJAAU00), ULSD 10 ppm FOB (AAVBF00), ULSD 10 ppm CIF (AAVBG00), Diesel 10 ppm UK (AAVBH00), Gasoil 0.1% FOB (AAYWR00), Gasoil 0.1% CIF (AAYWS00)

FEEDBACK: Platts invites comments, questions and other feedback on these proposals by August 1, 2017.

Please send all comments, feedback and questions to oilgroup@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.