What is OPIS rack price?
OPIS is the oil industry’s rack price benchmark. As an independent wholesale price reference, the industry relies on our benchmark rack data to ensure that fuel transactions and supply contracts are accurate and fair. Rack price delivery type, formats and frequency are flexible.
What does OPIS mean for fuel?
Oil Price Information Service
OPIS (Oil Price Information Service) delivers pricing and analysis you can trust across the entire fuel chain – in real time, worldwide.
What is OPIS average?
Glossary Terms » OPIS Contract Average. A snapshot of the average of all supplier postings in each OPIS rack market at approximately 10:00 a.m. ET. The snapshot includes all price moves from 6:00 p.m. ET the prior day up until the price file is frozen at approximately 10:00 a.m. ET.
What is the rack price of gasoline?
The rack price includes the cost of the gas itself, as well as transportation, overhead, and profit costs. The price can vary from terminal to terminal and depends on the cost of crude oil and related refining costs.
How is rack price calculated?
Rack pricing can be calculated by adding the costs of transportation, overhead and profit to the gasoline spot price. This is why rack pricing may vary for different places. For example, an isolated station far from its refinery pays a higher rack pricing than one that is closer to the refinery.
What is the wholesale price of propane?
Stats
| Last Value | 1.119 |
|---|---|
| Latest Period | Mar 2021 |
| Last Updated | Mar 31 2021, 13:22 EDT |
| Next Release | Nov 3 2021, 13:00 EDT |
| Average Growth Rate | 18.18% |
Who is buying OPIS?
News Corp
News Corp NWS, +3.72% announced Monday an agreement to buy Oil Price Information Service (OPIS) for $1.15 billion in cash, from S&P Global Inc.
Does IHS own OPIS?
IHS Acquired OPIS IHS, the leading global source of critical information and insight, completed its acquisition of OPIS on February 11, 2016.
What is Tet and non Tet?
TET butane is refinery grade and it can only be used for gasoline blending. Non-TET purity normal butane is more valuable since it can be used for isomerization, as a petrochemical feedstock and in gasoline blending. This distinction drives the price differential between the two.
Is propane a petroleum product?
Propane is one of a group of liquefied petroleum gases (LP gases). The others include butane, propylene, butadiene, butylene, isobutylene, and mixtures thereof. Propane has a lower energy density but burns more cleanly than gasoline and coal.
What is wholesale price of gasoline?
The gas wholesale price — or rack price — is what the gas station owner must pay for the gasoline that he or she sells. This price includes the crude oil cost, distribution costs, refinery costs and profits, and any underground storage tank fees that the state or local government may levy on the retailer.
What is rack marketing?
Glossary Terms » Rack Market. Petroleum products sold at the wholesale level from primary storage. Refers to loading racks where tanker trucks fill up.