OPIS by IHS Markit Launches Comprehensive Fuel Price Index & Wholesale Prices for Mexico’s Refined Products
Leading price reporting agency adds two new products to its growing Mexico fuels market coverage
HOUSTON (October 30, 2019) – OPIS (Oil Price Information Service) by IHS Markit (NYSE: INFO), the first price reporting agency to calculate implied wholesale-rack costs in the Mexican fuel market, announced today it has launched the OPIS Mexico Fuels Report, a new report that provides transparency for the Mexican market regarding the costs of importing refined products to Mexico from the U.S. benchmark markets.
Additionally, OPIS Mexico Racks has expanded its offerings to include a report on Posted Wholesale Prices. In 2016, OPIS started providing unbiased rack-market pricing in Mexico with OPIS Mexico Racks, and provides retail and implied wholesale pricing in the developing Mexican fuel market with daily rack prices at all terminals in Mexico.
The new Posted Wholesale Prices will be available as a part of the OPIS Mexico Rack platform, and will increase visibility at a critical time in Mexico by offering actual wholesale prices in Monterrey, Nuevo León, which has emerged as an important and leading market hub, given the proximity with the U.S., the number of new market participants, and access to infrastructure to bring fuel from the U.S. by truck, rail and pipeline.
“This Mexico Rack platform allows us to share the Posted Wholesale Prices in a forum that can be easily accessed and adopted as the benchmark, and it will provide visibility to Posted Wholesale Prices,” said Tanya Lee, director of rack-product management for OPIS. “We plan to expand rapidly to more cities, especially where terminal infrastructure buildout is underway, and storage will be available. With that in mind, we expect to hear from more suppliers wishing to be included in this new, transparent, and critical pricing platform for the growing Mexican market,” Lee said.
The new, daily OPIS Mexico Fuels Report provides news, analysis, and price transparency into the build-up cost of importing fuel from the U.S. into Mexico. It features a landed-spot market index that assesses the price of Mexico delivered gasoline, diesel fuel and jet fuel, based on the daily OPIS assessments for U.S. benchmark refined-product spot markets. The report also provides Mexico Reid Vapor Pressure (RVP) and octane blend value differential for Mexico’s gasoline markets, prices for Mexico wholesale markets, U.S. Gulf Coast spot market to Mexico wholesale arbitrage heat maps, and price assessments for Americas freight rates.
“Mexico imports 60 to 70 percent of its gasoline and diesel fuel from the United States, and fuel providers want an index that fairly captures the cost of supplying the Mexican market,” said Lisa Street, associate director, Americas refined products & carbon for OPIS. “OPIS understands that Mexico regional gasoline specifications are not the same as fuel that is pricing in the daily U.S. benchmark spot markets, and that Mexico fuel suppliers need an accurate assessment of that price difference. This OPIS Mexico Fuels Report provides an unprecedented level of price transparency for Mexico’s fuel markets,” Street said.
Associate Director, Americas Refined Products & Carbon
Director of Sales and Business Development, Mexico
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About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
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About OPIS (www.opisnet.com)
Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS and OPIS PetroChem Wire enable customers to buy and sell oil and gas products with confidence via easy access to transparent data, expert-level customer support, educational events and energy data solutions with Axxis Software and OPIS RetailSuite.