(View new features & sample rack report)
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Tired of waiting for your much needed rack prices to come through your email or fax machine? Well, the wait is over. With OPIS WebRacks, you're in control of when and where you get your prices.
Sign on to start your FREE 5-day trial and start buying smarter today. With the enhanced OPIS WebRacks you can:
- Gain instant access to 11 timed updates -- including 3 critical OPIS benchmarks (Contract Average, Closing Average and the brand new Calendar-Day Average) -- at any time via the internet.
- View 2 days worth of historical data.
- See every move in an easy-to-read format.
- Get access to multiple updates for pennies more than a one-time update.
- Mid-day price moves are now the rule, not the exception. OPIS WebRacks gives you access to nearly 400 rack locations at your convenience so you can stay on top of the market, and your competitors, all day long.
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OPIS “freezes” supplier prices and averages by rack at key time intervals throughout the day so buyers and sellers of fuel can index their purchases to an unbiased, third-party price frozen at a fixed point in time. The averages are stored in OPIS’ TimeSeries database so customers can easily settle disputes any time by retroactively looking up the frozen averages. These averages are in gross and net formats and appear daily in the various OPIS e-mail, fax and web rack reports. The benchmarks include lows, highs and averages for all suppliers as well as branded and unbranded lows, highs and averages. Below are definitions of the three key OPIS rack benchmarks.
OPIS Contract Average: A snapshot of the average of all supplier postings in each OPIS rack market at approximately 10:00 a.m eastern time. The snapshot includes all price moves from 6:00 p.m. the prior day up until the price file is frozen at approximately 10:00 a.m. (Example: The Jan. 3 Contract Average encompasses all price moves that were made at 6:00 p.m. Jan. 2 up until approximately 10:00 a.m. Jan. 3.)
OPIS Closing Average: A snapshot of the average of all supplier postings in each OPIS rack market by 5:59 p.m. eastern time. The snapshot includes all price moves from 6:00 p.m. the prior day until the price file is frozen by 5:59 p.m. (Example: The Jan. 3 Closing Average encompasses all price moves that were made at 6:00 p.m. Jan. 2 up until we freeze the prices no later than 5:59 p.m. on Jan. 3. It does not include any price moves made at or later than 6:00 p.m. on Jan. 3.)
OPIS Calendar-Day Average: A snapshot of the average of all supplier postings in each OPIS rack market at 11:59 p.m. eastern time. The snapshot includes all price moves from 12:00 a.m. (midnight) until the file is frozen at 11:59 p.m. (Example: The Jan. 3 Calendar-Day Average encompasses all price moves that were made at 12:00 a.m. on Jan. 3 up through 11:59 p.m. on Jan. 3. Hence, it is an average of all prices on that calendar day.)
OPIS Spot Mean shows the daily spot price in over 225 key cities for gasoline and distillate. This extra pricing data enlarges the view of the market and provides additional pricing options when buying and selling fuel.
OPIS Spot Replacement Index (SRI) links local rack markets to bulk spot markets. It then factors in the appropriate delivery costs (truck or pipeline tariffs, cost of money, terminal fees, product shrinkage, etc.) to get that spot product delivered to a particular rack in over 215 key cities.
OPIS Smart Rack integrates wholesale gasoline prices with retail gasoline lows, highs and averages by individual markets, and shows valuable profit margins at over 240 locations. Use the OPIS Smart Rack to track retail prices, determine average margins for your competitors, benchmark retail and wholesale price averages and to determine the true cost of doing business anywhere.
OPIS Standard Display includes only one terminal location per supplier based on the location where product is priced the most competitively and where the majority of customers in a particular city lift barrels. This allows the OPIS contract summary data, especially the contract average, which is widely used as a benchmark, to have a consistent methodology and avoid being manipulated by a supplier in a given city. OPIS verifies this data each day to ensure consistency and accuracy in calculating contract averages for benchmark purposes.
OPIS Terminal Display includes multiple-supplier listings for individual cities, even if a supplier consistently posts the same price at multiple terminals in a given metropolitan area. OPIS Terminal Display includes all terminal locations for any rack city to provide full supplier coverage.
"We depend on OPIS Rack Reports for an accurate price reflection to keep not only our margins at an exceptional level, but also to keep us competitive for our customers. Without this tool we would be reacting too slowly to the volatile conditions. During extreme market moves, OPIS has done an outstanding job of keeping track of vendor outages to help us eliminate inaccurate numbers when factoring prices."
-- Luke Wiese, Nebraska Iowa Supply Company |
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