A common universal indicator that measures the price performance of an average ton of light refined products (gasoline, diesel fuel and jet fuel) in the domestic Russian market.
The average ton of light refined products includes the following types of refined products:
- Gasoline Regular-92;
- Gasoline Premium-95;
- Summer Diesel;
- Winter Diesel;
- Autumn/Spring Diesel;
- Jet Fuel.
A consolidated price indicator is calculated:
- Index for exchange-traded contracts is calculated on the basis of values of National Price Indices for exchange-traded refined products, which in turn are calculated on the basis of Consolidated Prices at refineries for exchange-traded contracts.
Composite index includes excise tax and VAT at the rate established in accordance with the legislation of the Russian Federation.
Composite Index for exchange-traded contracts is calculated on a daily basis as the sum of products of National Indices for exchange-traded contracts by the respective weights divided by a special fixed factor. Weights allow reflecting in the index shares of all major refineries in total supplies of various types of refined products (gasolines, kerosene, diesel fuel) to the domestic Russian market.
The following Composite Price Indices for exchange-traded light refined products are calculated for a trading day:
- Composite Primary Market Index is calculated on the basis of National Primary Market Indices.
- Composite Secondary Market Adjusted Index is calculated on the basis of National Secondary Market Adjusted Indices.
Composite Index is formed with more than 90% of exchange-traded contracts for light refined products (Regular-92, Premium-95, jet fuel and diesel fuels), which makes it the most representative and reliable indicator.
Composite Index is calculated in points. The index value on the first day of calculation is set to 1,000 points.