+++ Consultation on E10 price assessments and clarification +++

Argus proposes to change the way outright E10 and 98 Ron gasoline prices are calculated to incorporate the regional variation in differentials to the price of E5 gasoline.

Under this proposal, Argus would calculate E10 and 98 Ron outright prices using regional differentials to the relevant regional E5 price. Currently, outright prices are calculated using national consensus E10 and 98 Ron differentials and regional E5 price assessments. As part of this change, assessed E10 and 98 Ron differentials will be published as a single value for each product and region, rather than as a low-high range for each.

Argus would also like feedback on the timing of this proposed change, specifically whether 1 October 2021 or 1 January 2022 is preferable.

At the same time, Argus would like to more clearly define a general approach to legislation that affects fca truck prices. As the implementation date of a relevant law approaches — for example, legislation setting out gradually increasing CO2 levies or greenhouse gas savings requirements — Argus may exclude transactions that are expected to load after the date the law comes into effect, or which are priced in a way that indicates the inclusion of the new levy.

This would effectively reduce the typical 28-day loading window for transactions considered for inclusion in Argus assessments. Argus will discuss any new legislation with market participants in advance, to determine whether this approach should be taken.

To discuss comments on this proposal, please contact Kevin Schaefer or Hagen Reiners at kevin.schaefer@argusmedia.com or hagen.reiners@argusmedia.com. Formal comments should be marked as such and may be submitted via e-mail to Germanfuels@argusmedia.com and received by 31 July 2021. Please note, formal comments will be published after the consultation period unless confidentiality is specifically requested.

Yours sincerely,

Argus O.M.R.