Tired of waiting for your much needed gasoline, diesel and biodiesel rack prices to come through? With OPIS WebRacks, you're in control of when and where you get your prices. Start buying smarter today. With OPIS WebRacks you can:
- Gain instant access to 12 timed updates – including 3 critical OPIS benchmarks (Contract Average, Closing Average and the brand new Calendar-Day Average) – at any time via the internet.
- View 5 days worth of historical data.
- See every move in an easy-to-read format.
- Get access to multiple updates for pennies more than a one-time update.
- Access more than 390 wholesale locations at your convenience so you can stay on top of the market, and your competitors, all day long. Available in both OPIS standard (one price per supplier per market) and detailed terminal (multiple prices per supplier per market) formats for complete price visibility.
OPIS Standard Display (view sample here): Provides one price per product, per supplier in each market, even when suppliers post at multiple terminals. We select the primary terminal for each supplier, so the OPIS averages that are so critical for benchmarking and market analysis are not skewed.
OPIS Terminal Display (view sample here): Shows product prices posted for every supplier at all terminals in a given location for total price transparency and includes the location and owner.
OPIS Popular Rack Benchmarks
OPIS "freezes" supplier prices and averages by rack at key time intervals throughout the day so buyers and sellers of fuel can index their purchases to an unbiased, third-party price frozen at a fixed point in time. The averages are stored in OPIS's TimeSeries database so customers can easily settle disputes any time by retroactively looking up the frozen averages. These averages are in gross and net formats and appear daily in the various OPIS email, FTP, and WebRack reports. The benchmarks include lows, highs and averages for all suppliers as well as branded and unbranded lows, highs and averages. Below are definitions of the three key OPIS rack benchmarks.
- OPIS Contract Average: A snapshot of the average of all supplier postings in each OPIS rack market at approximately 10:00 a.m. eastern time. The snapshot includes all price moves from 6:00 p.m. the prior day up until the price file is frozen at approximately 10:00 a.m. (Example: The January 8th Contract Average encompasses all price moves that were made at 6:00 p.m. January 7th up until approximately 10:00 a.m. January 8th.)
- OPIS Closing Average: A snapshot of the average of all supplier postings in each OPIS rack market by 5:59 p.m. eastern time. The snapshot includes all price moves from 6:00 p.m. the prior day until the price file is frozen by 5:59 p.m. (Example: The January 8th Closing Average encompasses all price moves that were made at 6:00 p.m. January 7th up until we freeze the prices no later than 5:59 p.m. on January 8th. It does not include any price moves made at or later than 6:00 p.m. on January 8th.)
- OPIS Calendar-Day Average: A snapshot of the average of all supplier postings in each OPIS rack market at 11:59 p.m. eastern time. The snapshot includes all price moves from 12:00 a.m. (midnight) until the file is frozen at 11:59 p.m. (Example: The January 8th Calendar-Day Average encompasses all price moves that were made at 12:00 a.m. on January 8th up through 11:59 p.m. on January 8th. Hence, it is an average of all prices on that calendar day.)
"OPIS Racks and OPIS TimeSeries are trusted third-party sources that we use as a basis in our fuel supply contracts. The rack data gives us an unbiased benchmark for maintaining accuracy. The historical pricing information is invaluable in identifying prospective improvements in our buying decision, especially when entering new markets."
– Dick Mills
, VP of Petroleum Supply & Distribution, Holiday Stationstores
"Using OPIS Racks as a benchmark gives our customers confidence that they are not being misled about base cost. It builds trust. Additionally, many public entities in our area base contracts on OPIS to justify price changes to their auditors."
– Eric Ellis
, Owner, Ellis Oil Company
"OPIS Racks are critical to our fuel purchasing process. We use the OPIS data to review our agreements with our various suppliers. This allows us to quickly and efficiently reconcile our invoices."
– John Jepsen
, Director of Energy Management, US. Foods
"Musket is a long-time user of OPIS Racks as it plays an important role in our day-to-day operations. The information is used to give Musket a bird's eye view of specific markets and to accurately price in a very competitive world. OPIS's commitment to sending timely and accurate data will help keep Musket competing in the future and beyond."
— Debbie Barnhill
, Fuel Pricing Supervisor, Musket Corporation
"We rely on OPIS Rack data to provide an accurate history of prices which we use to evaluate current vs. historical basis levels as well as using this data to prepare studies to evaluate best purchasing methods or supply contracts at specific rack locations."
— Jim Burr
, Vice President of Energy Products, FCStone, LLC
"We depend on OPIS Racks for an accurate price reflection to keep not only our margins at an exceptional level, but also to keep us competitive for our customers. Without this tool we would be reacting too slowly to the volatile conditions. During extreme market moves, OPIS has done an outstanding job of keeping track of vendor outages to help us eliminate inaccurate numbers when factoring prices."
– Luke Wiese
, Fuel Pricing Manager, Nebraska Iowa Supply Company
"In today's volatile price environment, OPIS provides real-time information which is both meaningful and actionable for our day-to-day supply decisions. We rely on OPIS to provide accurate and timely indications from rack sellers in each one of our local markets."
– Brian Schaller
, Senior Director, Petroleum Supply & Trading, Wawa, Inc.