What Is Platts?

Platts, established in 1909 by Warren C. Platt and now a division of S&P Global, is a global provider of energy and commodities information, offering benchmark price assessments. Covering diverse markets such as oil, natural gas, electricity, coal, petrochemicals, metals, and agriculture, Platts furnishes independent price assessments along with news, analysis, and data. Its services cater to a broad spectrum of customers, including traders, analysts, risk managers, producers, consumers, and governments. Platts plays a crucial role in the fuel industry, providing benchmark prices used as reference points for pricing physical and financial contracts, aiding buyers in informed decision-making and risk management.

What impact does Platts have on the pricing of fuel?

Platts pricing significantly impacts the downstream refined fuel sector, primarily by reflecting regional spot market prices. Beyond this, Platts offers forward market data for risk management and provides pricing and information related to biofuels. Platts fuel pricing regions, such as Gulf Coast Pipeline, Gulf Coast Water, Los Angeles, Group 3, and NY Harbor, cover broad areas compared to rack pricing, which is specific to a city or metro area. For instance, a pricing example could be “Gulf Coast Water Platts + $.05,” indicating that the fuel will be purchased at 5 cents over the day’s average cost for a barge shipment from the Gulf Coast.

What is the process behind Platt Pricing?

Platts pricing operates through a methodology grounded in data collection, analysis, and collaboration with market participants. It prioritizes transparency, objectivity, and independence, serving as a reliable source of pricing information for market participants. This framework empowers fuel buyers to make informed decisions regarding when, how much, and at what price to purchase. Platts’ benchmark prices consider various factors influencing fuel prices, including regional supply and demand dynamics and transportation costs, reflecting the evolving market conditions. Additionally, market volatility, governmental policy changes, and unforeseen events can impact Platts pricing, leading to rapid price shifts in response to increased trading demand, even in the absence of alterations in underlying market fundamentals. The key steps in Platt’s pricing methodology include the following:

Data Collection:

Platts gathers pricing data extensively from various sources, including market participants, trade associations, industry reports, government agencies, and its own market intelligence.

Data Verification:

Ensuring accuracy and consistency, Platts conducts independent checks on pricing data, compares it with other sources, and cross-references it with market fundamentals.

Market Analysis:

Analyzing pricing data and market fundamentals, Platts identifies trends, supply and demand factors, and market drivers influencing the commodity’s price.


Engaging with market participants, Platts seeks feedback, validates pricing assumptions, and addresses concerns or issues to enhance the accuracy of its assessments.

Price Assessment:

Considering data, analysis, and consultation, Platts determines the benchmark price for a commodity that accurately reflects prevailing market conditions.


Platts releases benchmark prices regularly, either daily or weekly depending on the market, accompanied by a detailed methodology report explaining the pricing process and assumptions.


Feel free to reach out to AeroSmart Enterprise, for any additional inquiries about procuring fuel. Our knowledgeable experts are ready to guide you through bulk fuel purchases, providing flexible options tailored to align with your business goals.