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 has a continuous record of successful third-party audits certifying our adherence to IOSCO (International Organization of Securities Commissions) 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 an indicative price for the new 0.5% very-low sulfur fuel oil (VLSFO) for compliance in an IMO 2020 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.
  • The industry’s most extensive reporting of dyed and undyed diesel marine oil (DMA) barge values in Europe, as well as the low-sulfur gasoil settle and high-sulfur fuel oil prices.
  • All day visibility into European barge jet fuel contract pricing with the OPIS450 Europe Jet Ticker, a live trading screen that captures executable positions.

In addition, expert coal market analysis and key coal pricing is available for North American markets, APAC and Chinese markets, Southern African markets and global markets. These reports are published by IHS Markit, OPIS’ parent company.

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