Platts proposes launch of new Brazil DAP gasoline and diesel cargo assessments

Platts, part of S&P Global Commodity Insights, proposes to launch new assessments from Sept. 18, 2025, for gasoline and diesel cargoes delivered to ports in Brazil as part of its commitment to bringing transparency to new markets.

Part of the new assessments would represent the value of cargoes with 250,000-350,000 barrels in volume arriving from all origins, while others would track product from the US Gulf Coast, meeting Brazil's diesel and gasoline specifications and delivered on a DAP basis to Paranagua, Santos, Itaqui, Suape and Aratu in Brazil, 15-30 days forward from the day of publication. The assessments would be published in cents/gal, $/barrel and Real/cubic meter.

The new assessments would complement the following existing assessments for USGC-origin ULSD and all-origin gasoline DAP cargoes, as well as their corresponding weekly and monthly averages:

In addition to outright price assessments, Platts proposes to launch a corresponding differential versus NYMEX ULSD and NYMEX RBOB futures for the same cargoes, as well as new spread assessments showing the difference in value between product delivered from all origins and product delivered from the US Gulf Coast.

The new differential and spread assessments would complement the existing assessment for Gasoline DAP Suape (All-Origin) versus NYMEX (AGSUA00).

Market feedback has indicated a need for increased transparency in the Brazilian diesel and gasoline markets because of increased product flows into the country from a diverse set of regions, including the USGC, Russia, Northwest Europe, South Asia, the Arabian Gulf and Western Africa.

Presently, the DAP ULSD assessments for Itaqui, Suape, Aratu, Santos and Paranagua are calculated net-forwards that consider the USGC prompt pipeline assessment, a loading premium and clean freight rates. However, liquidity has been rapidly increasing in Brazil, with bids, offers, trades and indicative tradable values regularly heard from market participants.

For publication from the first business day through the 15th of each month, the differential would be expressed against the front-month NYMEX ULSD futures contract. From the first business day after the 15th through the last business day of the month, the differential will be expressed against the second month NYMEX ULSD futures contract.

This would represent a change from the current gasoline and S10 delivered assessment differentials, which roll on the first business day after the 10th of each month.

The new assessments would complement existing Brazilian import parity price assessments for ULSD and gasoline, which represent the value of material imported on the day of publication at each specified port, on top of the FCA assessments for the domestic market. Existing IPP and DAP assessments for Brazilian jet fuel and LPG cargoes would not be impacted by the proposal.

The new assessments would continue to reflect a 2:30 pm ET NYMEX settlement, and will continue to follow the US publishing calendar.

Platts proposes to publish the new all-origin assessments in the Latin American Wire and US Marketscan reports and on fixed pages 164, 165, 370, 371, 470, 471 and 24 of the PGA and PRF service lines.

Please send all comments or questions by Aug. 20 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.