OPIS Adds Spot Prices into Rack Display
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Move offers unparalleled view of the market ROCKVILLE, Md.--(Business Wire)-- Oil Price Information Service (OPIS), the nation's leading supplier of rack pricing information, is adding a "Spot Mean" quote to its daily wholesale rack price display. This unprecedented move will enhance wholesale price visibility by showing the prior-day closing spot price alongside the current day's rack price. "Our customers now have a more complete view of the market," said Ben Brockwell, OPIS Director of Data and Pricing Services. "Wholesalers and end-users are reacting to increased fuel price volatility by expanding their purchasing to the spot level. By putting the OPIS Spot Mean number right inside the rack display, our customers benefit by seeing the two levels of pricing in one simple display." The new display debuts February 4, 2008 in more than 225 OPIS rack cities in East of Rockies markets. In each of those cities, OPIS Spot Mean quotes for Conventional Unleaded Gasoline, Ultra-Low-Sulfur Diesel and Low-Sulfur Diesel will appear just below the wholesale rack price averages. Each Spot price will show an FOB indicator (U.S. Gulf Coast, Chicago, New York Harbor, etc.), so customers know instantly which spot market bulk price is being referenced. The move means that OPIS customers now see in one display: -- individual supplier rack prices and rack averages, -- the relevant Spot prices for gasoline and distillate, -- the retail average "pump" price in the nearest metro region. "The addition of OPIS Spot Prices into the OPIS Rack Price display completes the picture," noted Brockwell. "Our customers benefit by gaining an unparalleled view of the market by accessing multiple pricing levels for one subscription price." About OPIS Oil Price Information Service (OPIS) is the world's most comprehensive source for petroleum pricing and news information. OPIS receives more than 70,000 daily rack and spot prices for gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, propane, feedstocks, resid and kerosene. OPIS spot gasoline, diesel and jet fuel prices are heavily indexed as key benchmarks in national supply markets. OPIS also receives daily retail gasoline and diesel prices for more than 125,000 retail outlets in the U.S. and Canada. Newsletters, educational seminars, fax and email services are available for petroleum marketers, jobbers, fleets, oil executives and investment companies. For more information call 888-301-2645 or visit www.opisnet.com. Oil Price Information Service Ben Brockwell, 732-730-2519 Director, Data and Pricing Services email@example.com Copyright Business Wire 2008