Spot Market Pricing Overview

What is a spot market?

“Spot” purchases refer to fuel that physically changes hands at a refinery gate or other major pricing hub for delivery on a pipeline or via barge or cargo. Deals are always done in bulk, typically 5,000 barrels (210,000 gallons) to 50,000 barrels (2.1 million gallons).

The spot market is a critical link in the price influence chain because it sets the basis for cost-plus formula deals between suppliers and end users. It also forms the rationale for wholesale fuel price moves every day at 6pm at wholesale racks across the U.S. – which then impacts price increases or decreases at the retail pump.

OPIS is the oil industry’s selected spot pricing benchmark

OPIS provides pricing for spot refined products, renewable fuels, LPG and refinery feedstocks. Oil, gas and fuel markets rely on OPIS as its spot benchmark for:

OPIS’ robust price-discovery methodologies are in accordance with IOSCO (International Organization of Securities Commissions) Principles for Oil Price Reporting Agencies and with European Union Benchmark Regulation (BMR), with a continuous record of successful third-party audits of our adherence to these principles of transparency and objectivity.

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Featured Spot Pricing Product: OPIS Spot Ticker

The OPIS Spot Ticker not only provides access to real numbers in real-time for all 7 spot markets, but also before-and-after-hours to keep you ahead of the competition. 

In this time of oil market uncertainty and price volatility, with complex supply/demand dynamics at play, OPIS provides the real-time data you need to make the most of market changes and volatile price swings.

It provides real-time spot trades and expert assessments of every grade of gasoline, diesel and jet fuel East of the Rockies and on the U.S. West Coast. Try the Spot Ticker free today.

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OPIS covers the refined spot market the same way you do business – all day long.

Since 1981, our methodology has been based on the direct input of the community we serve. Our cues come from the industry – not the other way around.

Instead of assigning a “window” in which to do deals, OPIS tracks the market’s full-day activity. Confirmed deals or informed assessments make up our spot report ranges. Analysis provides all sides of the market’s story, to put the prices into context. We make our all-day transparency 100% visible on the OPIS Spot Ticker.


OPIS spot market assessments are trusted around the Globe.

OPIS provides pricing, news and expert market analysis for Mexico refined products as well as jet fuel, middle distillates, VLSFO, LPG/NGL and feedstocks markets in Europe and Asia. We offer:

  • Global marine bunker fuels prices for Asia, Mideast, Europe and the Americas, including a price for the 0.5% very-low sulfur fuel oil (VLSFO) for compliance in a low-carbon world.
  • Mexico gasoline, diesel and jet fuel spot pricing. Understand the true buildup cost of cross-border shipments from the U.S. to Mexico and identify the most accurate price point for each import area.
  • Live global LPG prices to aid in determining the arbitrage relationship between European and Asian spot LPG markets and the key Mont Belvieu, TX, hub.
  • Daily pricing reports for LPG and feedstocks in Europe and Asia.
  • Daily pricing reports for jet fuel, diesel and gasoil in Europe and Asia.

In addition, expert coal, metals and mining market analysis and pricing is available from McCloskey by OPIS for North American markets, Greater China markets, APAC and African markets, and global markets.

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