Frequently Asked Questions
Q: What regulations govern the arrangements for TGP pricing?
Terminal Gate Price (TGP) arrangements are set out in Trade Practices (Industry Codes — Oilcode) Regulations 2006. The Oilcode has the force of law and provides a nationally consistent approach to TGP arrangements. The ACCC administers the Trade Practices (Industry Codes — Oilcode) Regulations 2006, on behalf of the Australian Government. See Links page for ACCC and Oilcode link.
Q: How is a TGP price calculated?
The basic formula for the calculation of a TGP price is:
TGP = IPP Benchmark Price + excise + operating costs (includes storage and local transport costs eg pipline) + wholesale supplier’s margin + GST (10%)
TGP = IPP Benchmark Price + excise + operating costs (includes storage and local transport costs eg pipline) + wholesale supplier’s margin + GST (10%)
Q: Are TGP prices expressed at Ambient or Temperature Corrected values?
The TGP for each declared petroleum product sold is expressed in cents per temperature corrected litre (at 15°C).
Q: Does the posted TGP include GST?
The TGP for each declared petroleum product sold is expressed including GST.
Q: Where has the ACAPMA Australian Terminal Gate Price website obtained the notified TGPs?
The TGP for each declared petroleum product sold was obtained from information posted on each individual wholesale supplier’s website. Except for Gull, who’s price has been drawn from the Western Australian Fuelwatch website.
Q: When are the TGPs collected by the ACAPMA Australian Terminal Gate Price website?
The TGP for each declared petroleum product sold is collected three times each day. These times are 6am AEST, 12pm AEST and 6pm AEST each day. The date and the time of the most recent data update is stated on the TGP page of this website.
Q: How do I know when the posted TGP becomes effecitve in the market?
The TGP for each prescribed product from each wholesale supplier is noted with an ‘effective from’ date and time that is posted on the TGP page of this website.
Q: What is the OPIS ACAPMA Benchmark price?
The OPIS ACAPMA Benchmark Price is a calculation estimating the wholesale market price for a refined product at a terminal comparable to the cost of importing fuel into that terminal.
Note: the OPIS ACAPMA Benchmark does not include any assumptions of a wholesale suppliers margin or operating costs (including storage and local transport costs eg pipeline) or marketing costs (including brand fees or terms related costs).
Note: the OPIS ACAPMA Benchmark does not include any assumptions of a wholesale suppliers margin or operating costs (including storage and local transport costs eg pipeline) or marketing costs (including brand fees or terms related costs).
Q: What does IPP stand for?
Import Parity Price
Q: What does IPP mean?
The setting of prices of domestically refined petrol in the wholesale market at a price comparable to the cost of importing fuel into a given location in Australia.
Q: How is the OPIS ACAPMA Benchmark price calculated?
IPP (RULP) = Benchmark RULP price (MOPS 95) + quality premium + freight + insurance and loss + wharfage + other costs + excise + GST (10%).
IPP (Diesel) = Benchmark Gasoil price (10ppm) + freight + insurance and loss + wharfage + other costs + excise + GST (10%)
Note: the OPIS ACAPMA Benchmark does not include any assumptions of a wholesale suppliers margin or operating costs (including storage and local transport costs eg pipeline) or marketing costs (including brand fees or terms related costs).
IPP (Diesel) = Benchmark Gasoil price (10ppm) + freight + insurance and loss + wharfage + other costs + excise + GST (10%)
Note: the OPIS ACAPMA Benchmark does not include any assumptions of a wholesale suppliers margin or operating costs (including storage and local transport costs eg pipeline) or marketing costs (including brand fees or terms related costs).
Q: What is MOPS 95?
Mean of Platts Singapore (MOPS) 95 is an international benchmark price subject to supply and demand factors on the global market.
Q: How is MOPS 95 calculated?
The daily mean of the high and low components of a Platts assessment for oil cargoes loading from Singapore; a free on board price for completed deals in a particular commodity, quoted in USD.
Q: What USD to AUD exchange rate is used for the price calculation?
The exchange rate used for the OPIS ACAPMA Benchmark is taken from the Reserve Bank of Australia website at 4:30pm each day.
Q: Why is there a quality premium calculated on the price?
The Australian fuel quality standards for RULP are generally higher than the MOPS 95 specifications; therefore to reflect this difference the IPP includes a quality premium. For this calculation the OPIS ACAPMA Benchmark includes the most recent financial year average of the quality premium as reported by the ACCC.
Q: How is freight calculated?
Freight assessments included in the IPP are calculated by reference to international indexes of freight rates. This includes the Worldscale Flat Rate and the Singapore-Australia Clean Rate Freight Index published by Platts. The Worldscale Flat Rate is a benchmark shipping rate set annually based on a standard ship size and contractual conditions for a specified voyage. The Platts Singapore-Australia Clean Rate Freight Index is published daily and reflects current freight assessments associated with a voyage from Singapore to eastern Australian ports on a 30 000 tonne ship.
Q: How can I buy fuel from a wholesale supplier?
Terms and conditions for the sale of each declared petroleum product, by the relevant wholesale supplier, can be obtained by contacting the relevant wholesale supplier.
Q: What is meant by ‘E10’ and ‘Ethanol Blended Petrol’?
This declared petroleum product may contain up to and including 10% ethanol.
Q: What is meant by ‘B20 Biodiesel’ and ‘Biodiesel’?
Diesel with ratios containing greater than 5 per cent and up to 20 per cent biodiesel can be supplied under approval. The biodiesel component must meet the biodiesel standard, while the diesel component must meet the diesel standard (DSEWPaC 2009).
Disclaimer of liability
General disclaimer
While every effort is made by the Australasian Convenience and Petroleum Marketers Association (the Association)and Opis (the Company) to ensure that accurate information is disseminated through this medium, both the Association and the Company make no representation about the content and suitability of this information for any purpose.
It is provided "as is" without express or implied warranty.
Both the Association and the Company disclaim all warranties with regard to this information, including all implied warranties or merchantability and fitness. In no event shall the Association or the Company be liable for any special indirect or consequential damages or any damages whatsoever resulting from loss of income or profits, whether in an action of contract, negligence or other tortious action, arising in connection with the use or performance of this information.
Further, the Association and the Company have provided Hypertext links to a number of sites as a service to our clients. This should NOT be taken as implying any link between us and those various organisations or individuals. The user of the links remains responsible for any fees charged by the linked site and is reminded that merely downloading images and/or text would amount to a breach of Australian and international laws unless permission is given by that site.
The Association and the Company reserves the right to alter, amend or delete any program, report, fee, admission requirement, mode of delivery or other arrangement without prior notice.
In reproducing the TGP price information for each wholesale supplier, the Association and the Company relies on each of the relevant wholesale suppliers to have met their requirements under Oilcode and the Competition and Consumer Act 2010.
Key Terms
- ULP 91 – Unleaded Petrol, 91 Octane
- PULP 95 – Premium Unleaded Petrol, 95 Octane
- PULP 98 – Premium Unleaded, 98 Octane Petrol
- E10 ULP 91 – E10 Unleaded Petrol, 91 Octane
- E10 PULP 95 – Premium E10 Unleaded Petrol, 95 Octane (Freedom Fuel Only)
- E10 PULP 98 – Premium E10 Unleaded, 98 Octane Petrol (Freedom Fuel Only)
- Diesel 10ppm – Distillate, with sulphur levels of 10 Parts Per Million
- B20 Diesel – Diesel 10ppm that may contain higher than 5% biodiesel and up to and including 20% biodiesel (Freedom Fuel Only)
- TGP – Terminal Gate Price
- IPP – Import Partity Price