Argus Group Three RBOB
Argus recently launched a calculated assessment for reformulated gasoline in Group Three. This move comes following recent changes that were made in gasoline specifications for the Denver, Colorado, area in 2024.
Summertime conventional gasoline sales in Denver, Colorado ended on 7 November 2023 when the US Environmental Protection Agency (EPA) mandated reformulated gasoline for the metropolitan area during the summer season. The shift in specifications was first announced by the EPA ruling in November 2022 when it found the region was not meeting federal ozone standards. Reformulated gasoline burns cleaner than its conventional counterpart but is also a more expensive fuel to produce.
For the winter months, Denver gasoline prices will likely change little from years past. The Reid Vapor Pressure (RVP) levels for reformulated gasoline will likely closely mimic those seen in Group Three’s conventional gasoline market for the southern portion of the midcontinent.
But come summer – which is defined as 1 June through 15 September – Denver area retailers will be required to sell 7.4 RVP reformulated gasoline, as opposed to a prior requirement of 7.8 RVP conventional fuel. This is expected to widen Denver's premium to conventional prices in nearby regions.
Denver reformulated gasoline's premium to sub-octane gasoline prices in adjacent states such as Oklahoma and Kansas should be similar to spreads between Gulf coast CBOB and Gulf coast RBOB. Denver's reformulated gasoline supply will come from a combination of shipments from the midcontinent and Gulf coast markets, as well as from Suncor's 103,000 b/d refinery in nearby Commerce City, Colorado.
Group Three RBOB Methodology
Prices for Regular RBOB are published year-round for 10,000 bl on a fob Tulsa, Oklahoma basis.
Prices are calculated by applying the spread between the prompt Argus Regular Texas Destination RBOB and Regular Colonial CBOB from the US Gulf coast markets to the respective prompt Magellan suboctane V grade price. The use of the spread value mitigates the end-of-summer shift in Colonial RVP specifications.
Your Go-To Source for Reliable Road Fuel Prices
As a trusted source in the industry, Argus delivers accurate, timely pricing for gasoline, diesel, jet fuel, RINs, ethanol, and more. Our data equips buyers, sellers, and refiners with the precision necessary to operate confidently in the dynamic market.
Explore our services and discover how we can support your business in mastering market dynamics.
Author: Paul Dahlgren, Editor, Refined Products Americas – Gasoline Markets
Spotlight content
Related news
Australia promises no gas tax on existing LNG contracts
Australia promises no gas tax on existing LNG contracts
Sydney, 29 April (Argus) — No export taxes will be placed on LNG contracted by trade partners, Australia's prime minister has promised, after weeks of intensive lobbying by unions, anti-gas campaigners, economists and industry. The weeks following the US-Iran war showed it was critical to not jeopardise trade links with Asia or the investment needed from overseas partners, prime minister Anthony Albanese said in Perth on 29 April. Anti-fossil fuel groups had been calling for a 25pc tax on exports to raise money for Australia's weakening federal budget. But Western Australia's premier and other key Labor politicians close to the resources sector opposed such measures, citing the need for investment continuity . An east coast gas reservation would instead be instituted but only affect future export contracts , Albanese added. The ongoing shock from the Middle East war is leading to a renewed spotlight on Australia's lack of sovereign refining capacity. Australian ministers have been regularly dispatched to trading partners in east Asia in recent weeks to shore up supplies of gasoil, gasoline and jet fuel as well as fertilizer. Australia holds only 49 days' supply , slightly more than half of the IEA's mandated net import coverage of 90-days at the end of February and down by one day from January. Australia held 44 days of gasoline, 33 days of gasoil and 30 days of jet fuel consumption under its minimum stockholding obligation as of 21 April. The foreign minister is travelling to Japan, China and South Korea this week , which receive large volumes of Australian LNG and also export significant fuel volumes to Australia. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Fossil-fuel talk participants call for framework
Fossil-fuel talk participants call for framework
Santa Marta, 28 April (Argus) — Some countries participating in a conference in Colombia to discuss a transition away from fossil fuels called for stronger international cooperation and legal frameworks to help manage the shift. Around 60 countries are participating in the First Conference on Transitioning Away from Fossil Fuels in Santa, Marta, Colombia, and co-hosted by the Netherlands from 24-29 April. The two-day conference, which gathers ministers and other high-level officials from the participating countries, began on Tuesday. The participating countries — which together account for around one-fifth of global oil production, one-third of consumption and one-third of the world's GDP, Colombia has said — mentioned frustrations over existing multilateral frameworks based on consensus and "influenced by interests of the fossil fuel industry". Colombia's environment minister Irene Velez-Torres called for "multilateralism without de facto vetoes" that is "capable of translating agreements into implementation". "We must pave the way for a legal instrument that names what it phases out and how we finance it," Panama's special representative for climate change Juan Monterrey said, also calling on participating countries to commit to banning drilling for hydrocarbons in specific zones. Monterrey also told Argus that he expects the event to set up a few permanent working groups or streams that can carry the work in the future. Other speakers at the plenary, such as Slovenia's state secretary Uros Vajgl, Germany's environment and climate action secretary Jochen Flasbarth and Spain's ecological transition minister Sara Aagesen also urged for "practical cooperation". Others, such as Nigeria's regional development minister, said that the countries must discuss the phase down, not out, of fossil fuels. Nigeria is a crude producer and its national energy mix is heavily reliant on fossil fuels. Brazil's secretary for climate change Aloisio de Melo said on the sidelines that a fossil fuel phase out would not be one-size-fits-all. "There is no ambition for a standard roadmap," he said, adding that it is important that each country takes ownership of its own process. Many countries also mentioned a recent International Court of Justice advisory opinion that said that countries have obligations to contribute to cutting emissions, and breaching those commitments could constitute a "wrongful act". Reality check Many participating countries also emphasized how the effects of the war in Iran on fuel prices have underscored the need to transition away from fossil fuels. EU climate commissioner Wopke Hoekstra called the energy crisis brought on by the war in Iran "a reality check". "We in Europe are losing half a billion euros each day this war continues," he said. It would be "irresponsible to ignore the second energy crisis in five years", the UK's special climate representative Rachel Kyte said. The war in Iran has shown that "a fast implementation of the agreed transition from fossil fuels is not just vital to combat climate change, but is also vital for energy security and energy," Cop 30 chief executive Ana Toni told conference attendees in Santa Marta. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
No clear timeline for Brazil fossil fuel phase out
No clear timeline for Brazil fossil fuel phase out
Santa Marta, 28 April (Argus) — Brazil has no set timeline to publish its roadmap to phase out fossil fuels, the environment ministry's secretary for climate change Aloisio de Melo told Argus . Brazilian president Luiz Inacio Lula da Silva on 8 December asked the energy, environment and finance ministries to draft a resolution by February mapping out the phase-out of fossil fuels. That had followed Lula's previous calls to create an international plan to move away from fossil fuels during a leaders' summit only a few days before the UN Cop 30 climate summit held in November in Brazil. But the call did not make it to the summit's final decision despite backing´ from over 80 countries . Instead, the Cop 30 presidency pledged to create a roadmap on the issue outside of official negotiations. But the Brazilian ministries never published the resolution requested by Lula. Instead, the plan has been submitted to the national energy policy council, which will be responsible for developing it, de Melo said in the sidelines of the First Conference on the Transitioning Away from Fossil Fuels , being held in Santa Marta, Colombia, from 24-29 April. The process to draft Brazil's roadmap has many moving parts and will "involve a lot of dialogue", de Melo said. "It's a process and we're not simplifying the approach," he said. "It's not just a matter of having big long-term goals, but of having a real trajectory with clear milestones, instruments, means and so on," which is "much more complex", he he said. One of the discussions surrounding the roadmap is its timeline, de Melo said, adding that the process "will take quite a bit of time" because it needs to have "a strong, solid institutional base that truly integrates with Brazil's energy planning". "It's not about having a document with some grand speeches and messages, but something that is actually consistent, solid and guiding over time and that transcends presidential administrations", he said. Phasing out fossil fuels could run counter to Brazil's plans of increasing crude production. It produces around 4mn b/d of crude , making it one of the 10 largest producers globally, according to its hydrocarbon regulator ANP. The country plans to expand crude output to 5.3mn b/d by 2030, according to energy research bureau Epe, hinging on new exploratory frontiers such as the southern Pelotas basin and the environmentally sensitive equatorial margin. But the production goals and the roadmap can coexist, de Melo said. The plan will focus on some decarbonization solutions that are "more or less ready and actionable" such as biofuels, he said. "But there are other solutions that are in the development and finalization phase." Additionally, Brazil's planned production growth will not take place in the short term, he said. So there is time to see how fossil fuels, mainly for transportation, will be used in a cleaner energy matrix over time. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
High jet prices could support European gasoline demand
High jet prices could support European gasoline demand
London, 28 April (Argus) — High jet fuel prices and reduced flight schedules could support European gasoline demand this summer as some consumers opt to drive rather than fly for leisure travel, market sources said. The price of jet fuel cargoes delivered to northwest Europe has soared since the US-Iran war began on 28 February, tightening supply to a region where demand exceeds local production capacity. Europe relies on the Mideast Gulf for around half of its jet fuel imports, according to Kpler. Delivered jet fuel cargo prices have averaged around $1,557/t since the conflict began, about 90pc above the five-year average for the period. Gasoline prices have also risen but to a much lesser extent, averaging about $967.75/t on a fob Amsterdam-Rotterdam-Antwerp basis, roughly 20pc above the five-year average. Europe is structurally long on gasoline and has not faced supply stress during the conflict so far. Since the war began, jet fuel prices have traded at a premium of around 61pc to gasoline benchmarks, compared with near-parity over the past five years, Argus assessments show. That widening price gap, combined with tighter flight availability, could begin to influence travel choices. While higher airfares alone may not deter consumers, cuts to short-haul flight schedules could prompt more people to seek alternatives to flying abroad this summer. "If short-haul flights continue getting cancelled, people are likely to drive to holiday destinations," one analyst told Argus . Another analyst pointed to fuel duty cuts across parts of Europe as an additional factor that will support gasoline demand. German consumers are delaying road fuel purchases until May to benefit from a temporary energy tax exemption , traders said. Smaller European economies including Sweden and Poland are also cutting fuel duties, while larger markets such as the UK and France have yet to introduce similar measures. "The weather is getting better and people will travel less and less by plane," one gasoline trader said, adding that European gasoline demand "looks ok" compared with east of Suez. By contrast, Asia-Pacific markets have seen sharper demand destruction because of greater exposure to crude and refined product supply from the Mideast Gulf, which remains severely restricted by Iran's effective blockade of the strait of Hormuz. European gasoline demand typically rises seasonally as peak summer approaches. This is usually reflected in the gasoline forward curve, where a contango structure implies strengthening time spreads through spring and summer. But the conflict has flipped the curve into backwardation, signalling stronger prompt market fundamentals. That tighter prompt balance is reflected in active physical trading, with at least 16 benchmark non-oxy gasoline barges exchanged this week and at least 60 oxy barges reported traded. Jet market liquidity, however, remains thin by comparison, while trading activity in physical spot windows has also quietened in recent weeks. "Just a couple of things have been trading," a broker said, potentially reflecting elevated jet fuel prices. Bid-offer spreads in paper markets remain at around $10/t, far wider than the typical 25¢-$1/t range, which may be discouraging counterparties from trading at workable levels. By George Maher-Bonnett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.