December 31 suspension of Laurel gasoline assessments

Following feedback to proposals in our subscriber note published on July 28, Platts will proceed to stop assessing the value of conventional gasoline delivered through the US' Laurel pipeline system with effect from December 31, 2010.

Under this change, Platts will stop publishing its Laurel pipeline conventional 87, 89 and 93 octane gasolines.

Platts will end these assessments because Buckeye Partner stated in a July 13 notice to shippers that it will only ship 91 Octane (CBOB Premium) and 84 Octane (CBOB) gasoline on its Laurel pipeline beginning with the 181L cycle.

That cycle is anticipated to begin on September 16, meaning the Laurel line will only ship CBOB in the fall and winter seasons of 2010/2011.

Between September 13 and December 31, Platts' Laurel conventional gasoline assessments will be established by applying the spread between Platts' existing US Buckeye pipeline conventional gasoline assessment and Buckeye CBOB assessments to the Laurel CBOB assessment.

Platts has separately announced plans to launch a Laurel CBOB assessment from September 13.

The 350-mile Laurel pipeline moves refined oil products throughout the Pennsylvania oil markets, shipping oil westward from four refineries and a connection point in Philadelphia to the Colonial pipeline system to terminals in Reading, Harrisburg, Altoona/Johnstown and Pittsburgh, Pennsylvania.

Please send comments to Sheela Tobben at sheela_tobben@platts.com; Esa Ramasamy at esa_ramasamy@platts.com and a cc to pricegroup@platts.com.