What is it?
The differential between the S&P Global Platts assessment of the price of RBOB (gasoline without the ethanol blended in) with an octane rating of 83.7 delivered via a barge in New York harbor and the price of Dated Brent, the world’s benchmark crude. All prices normalized to dollars per barrel.
Who is interested?
Any participant in the market that has an exposure to the price of distillates and wants to observe the relationship between gasoline and diesel, as that relationship can impact refinery decisions on producing relative quantities of one or the other.
What does it tell me?
The number takes the daily assessment of the price of RBOB (gasoline without the ethanol blended in) with an octane rating of 83.7 delivered via a barge in New York harbor, converts it to a price of dollars per barrel and subtracts the price of dated Brent from it. The end number is displayed as a graph. A rising number indicates the physical market for this product is strengthening compared to crude. A declining market indicates the physical market for this product is weakening compared to crude. The actual Platts assessment for the inputs is not available through this series and must be purchased from S&P Global Platts.