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RBOB GASOLINE
CONTRACT SPECIFICATION
| Trading Screen Product Name | NYMEX RBOB Gasoline | |
| Commodity Code | RBE | |
| Contract Size | 42 000 gallons / lot | |
| Price Quotation | USD / gallon | |
| Trading Hours | Monday - Friday 06:00 A.M - 05:00 A.M (the next day) |
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| Minimum Price Fluctuation | 0.0001 USD / gallon | |
| Contract Series | Monthly contracts listed for the current year and the next 3 calendar years and 1 additional month. List monthly contracts for a new calendar year and 1 additional month following the termination of trading in the December contract of the current year. | |
| Delivery Registration Day | As MXV required | |
| First Notice Day | The last business day of the month prior to the contract month. | |
| Last Trading Day | As MXV required | |
| Margin | As MXV required | |
| Position Limit | As MXV required | |
| Price Limit |
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| Settlement Method | Not deliverable | |
| Quality Standards | Standards are detailed below |
QUALITY STANDARDS
In accordance with the regulations of RBOB Gasoline traded on New York Mercantile Exchange (NYMEX).
Product infomation
Product introduction
Gasoline is a fuel liquid produced from the refining of crude oil.
Mixed gasoline is especially popular in life for those who use Ron 92, Ron 95 gasoline-powered cars and motorbikes.
Figure 1: A familiar image at a gas station in Vietnam
Characteristics
Gasoline is a mixture of organic hydrocarbons containing between 7 and 11 carbon atoms.
Gasoline is a liquid with a lower boiling point than water, so it is very volatile if exposed to outside air.
Gasoline from the distillation process is mixed with additives into blended gasoline to ensure safe and stable properties and then put into use.
Application
Gasoline is a highly flammable fuel, so it is used in most internal combustion engines in cars and motorcycles.
Figure 2: Operation of a gasoline internal combustion engine
Commerce
Domestic: According to data from the General Department of Customs, in 2019 Vietnam imported nearly 9.8 million tons of petroleum, with an average price of 607 USD/ton, with the addition of Nghi Son Oil Refinery going into production. import trend is on a downward trend.
As of December 31, 2019, there have been 25 operating periods for gasoline prices, in which there are 10 increases, 11 decreases, and 4 times to keep the price stable.
In the world, gasoline prices range from about 0.5 USD/l to 2 USD/l, Vietnam belongs to the group with relatively low prices with about 0.65 USD/l.
Figure 3: Gasoline prices in many countries around the world
Factors that affect gas prices
* Influenced by oil prices.
* Influenced by political and economic factors in oil exporting and importing countries.
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