Platts proposes two new USGC RVP assessments; change to existing RVP prices

S&P Global Platts is proposing to publish two new daily assessments reflecting the marginal value of RVP for US Gulf Coast CBOB and premium CBOB, as well as to change the names and methodology of its existing RVP adjustment assessments, with effect from Jan. 4, 2021.

The proposed change would provide further transparency to the US gasoline market, and provide RVP adjustment values all year round. Platts currently assesses seasonal RVP adjustment values for its main USGC Regular CBOB 87 and USGC Premium CBOB 93 assessments. These RVP adjustment assessments currently reflect the value of 1 psi RVP above the RVP value of the main regular and premium CBOB assessments in the winter, and 1 psi RVP below the RVP value of the main assessments in the summer.

With this proposed change, the existing USGC CBOB RVP adjustment assessment (AGLOA00) and USGC Premium CBOB RVP adjustment (AGHOA00) would always reflect 1 psi RVP above the RVP of the main CBOB and premium CBOB assessments year-round, and be renamed USGC CBOB RVP adjustment plus 1 psi and USGC Prem CBOB RVP adjustment plus 1 psi.

The two new assessments that Platts is proposing to publish from Jan. 4 would reflect the value of 1 psi RVP below the RVP level of the main USGC CBOB and USGC Premium CBOB assessments throughout the year, and be called USGC CBOB RVP adjustment minus 1 psi and USGC Prem CBOB RVP adjustment minus 1 psi.

The daily RVP adjustment assessments would be based on market indications regarding octane and RVP levels, as well as observed prices of related gasoline blendstocks.

The RVP adjustment assessments would be published in US cents/gal. There will be no change to the name or methodology of the main USGC Regular CBOB 87 and USGC Premium CBOB 93 assessments.

Please provide comments or feedback on this proposal by Dec. 4, 2020, 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.