The Composite index is a common unified indicator of the petroleum products market which measures the price performance of an average tonne of exchange traded light petroleum products.
The value of the Composite index is calculated as the total sum of the values of National indices for prices for light petroleum products multiplied by certain weight coefficients. These coefficients help to reflect the shares of domestic physical supplies of petroleum products (gasoline, kerosene, diesel) from Russia’s refineries.
Index values are provided in points. On Day 1 (January 11, 2011), it was set to 1,000 points.
The Composite index ensures a high level of reliability since it measures the price performance of about 90 percent of exchange traded contracts for light petroleum products (Gasoline Regular 92, Gasoline Premium 95, kerosene and diesel fuels).
The Composite index is calculated using an open and simple methodology and can be provided for any date starting from Day 1 thanks to historical values for the coefficients.