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

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

The change will provide further transparency to the US gasoline market, and provide RVP adjustment values all year round.

The project was first proposed in a subscriber note Nov. 23: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/112320-platts-proposes-two-new-usgc-rvp-assessments-change-to-existing-rvp-prices.

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 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 will publish from Jan. 4 will 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 (AGLOB00) and USGC Prem CBOB RVP adjustment minus 1 psi (AGLOC00).

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

The RVP adjustment assessments will be published in US cents/gal on Platts Global Alert pages 330 and 164; in Platts US Marketscan, Latin American Wire and Oilgram Price Report; as well as in the Platts price database under the codes above. There will be no change to the name or methodology of the main USGC Regular CBOB 87 and USGC Premium CBOB 93 assessments.

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

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