ROCKVILLE, Md., May 30, 2023 (GLOBE NEWSWIRE) -- OPIS, a Dow Jones company, has become the first price reporting agency to launch daily line space assessments for West Coast pipelines, helping customers navigate the newly established trade market in the region.
Starting May 2023, OPIS will evaluate the cost of line space trades for the shipment of gasoline and distillate products originating in Los Angeles and destined for Phoenix or Las Vegas; and for shipments from San Francisco to Reno, Nevada.
These new assessments are designed to provide greater transparency into spot market dynamics, as fuel demand in Phoenix, Las Vegas and Reno outpace supply capabilities. Against this backdrop, visibility into the full cost of shipping fuel to these regions has become more important than ever for companies in West Coast supply chains.
OPIS has served as the premier fuel pricing benchmark for the U.S. West Coast for more than 30 years and with this launch, it now provides insight into competitive line space markets, which acts as a crucial bridge between spot and wholesale rack trading in the region.
“California is one of the most highly regulated and intricate refined products markets in the country,” said Brian Crotty, general manager of OPIS. “Expanding our benchmark fuel pricing for the region with a timely, transparent line space assessment is an example of how OPIS leads the way in providing trusted news, data and pricing analysis to help customers make informed trading decisions.”
OPIS assessments reflect confirmed bids, offers and trades reported by approved traders and brokers. Further details about OPIS pricing methodologies are available at opisnet.com/about/methodology/.
OPIS, a Dow Jones company, 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 its brands, McCloskey, PetroChem Wire, Axxis and Chemical Market Analytics, enable customers to buy and sell energy commodities with confidence across the globe via easy access to transparent data, expert-level customer support, educational events and energy data solutions.
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