Platts to launch new Brazil DAP gasoline, diesel cargo assessments Sept. 15

Platts, part of S&P Global Commodity Insights, will launch new assessments from Sept. 15, 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 will reflect the value of cargoes with 250,000-350,000 barrels in volume arriving from all origins, while others will 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, Aratu and Belem in Brazil, 15-30 days forward from the day of publication. The assessments will be published in cents/gal, $/barrel and Real/cu m.

The new assessments 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 will 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 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.

From Sept. 15, 2025, the existing Platts ULSD S10 DAP assessments will be renamed to reflect their USGC origin, while the newly launched symbols will reflect DAP cargoes from all origins.

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

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

This decision follows a feedback-gathering period, following a proposal published Aug. 8. In its decision, Platts has reviewed the proposed launch date and brought it forward to Sept. 15 to enhance completeness of published data. In addition, Platts will launch new assessments for gasoline and diesel cargoes delivered to the port of Belem in response to market feedback gathered.

The new assessments also 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 are not impacted by the decision.

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

Platts will publish the new assessments in the Latin American Wire, US Marketscan and Brazil Fuels Market reports and on fixed pages 164, 165, 370, 371, 470, 471, 2040 and 24 of the PGA and PRF service lines.

Please send all comments or questions to americas_products@spglobal.com and pricegroup@spglobal.com.

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