The US Rack Market (ON-DEMAND) - RACK
Course Summary
In the USA, the distribution of fuels to filling stations, industrial and commercial users, and other retail sites, is handled mainly by independent petroleum marketing companies, or jobbers. Refiners and wholesale traders sell their products to the jobbers, and to other buyers, at over 1,000 storage and distribution terminals scattered across the USA. This is the rack market.
In this course, you will learn about how the rack market works, both commercially and operationally. You will learn who the main market participants are, how prices are set in this market and how they are reported. We will show you how to interpret a rack price report.
You will also learn about fuels distribution in the USA, the types and grades of fuel sold in the USA, blending operations and the use of additives, ethanol and biofuels.
Course Content
You will be able to:
- Recognize the need for long-distance transport of fuels and how fuels are distributed around the USA
- Identify how fuels are loaded into road trucks at rack terminals and some of the physical hazards associated with rack operations
- Recognize the main fuel types sold in the US retail market and their key characteristics
- Point out the need for blending operations, including the use of ethanol and biodiesel, and how these are carried out at the rack terminals
- Select the main types of sellers and buyers of fuels in the rack market
- Recognize several different models of filling station ownership and supply
- Distinguish between branded and unbranded fuel markets
- Identify how prices are set in the rack market, how they are reported and how benchmark prices are used in contracts
- Identify the key information needed to understand a rack market report
Practice exercises and self-assessment quizzes are included to help reinforce key topics introduced throughout the course.
A comprehensive final test will be given at the end of the course.
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