Terminal
BNSF - Belen
106 N. First St., Belen, NM 87002
T-86-NM-4264
distillate
- pipelines supplying
- 1
- confirmed delivery points
- 0
- lowest ¢/bbl into this terminal
- 561.35
- terminals within 100 mi
- 6
Supplied by
Tariff delivery points this terminal sits on.
| Pipeline | Delivery point | Products | Match | Source |
|---|---|---|---|---|
| Magellan Midstream | Belen Station, NM | gasoline distillate | same city | FERC No. 161.67.0 |
Can be sourced from
| Origin | Pipeline or mode | Refineries at origin | ¢/bbl | Source |
|---|---|---|---|---|
| Artesia, NM (via Holly Energy Partners) NM | Magellan Midstream incentive | Hf Sinclair Navajo Refining LLC | 561.35 | FERC No. 189.12.0 |
| Artesia, NM (via Holly Energy Partners) NM | Magellan Midstream joint | Hf Sinclair Navajo Refining LLC | 614.74 | FERC No. 189.12.0 |
| Wynnewood, OK / Ardmore, OK (Valero Partners Wynnewood) OK | Magellan Midstream joint |
Valero Refining CO Oklahoma Wynnewood Refining CO |
814.52 | FERC No. 197.9.0 |
| Baytown, TX (via ExxonMobil Pipeline) TX | Magellan Midstream joint | Exxonmobil Refining & Supply CO | 952.97 | FERC No. 190.11.0 |
| Port Arthur / Port Neches, TX (via Explorer) TX | Magellan Midstream joint |
Motiva Enterprises LLC Premcor Refining Group INC Totalenergies Petrochem & Refg USA |
979.31 | FERC No. 166.35.0 |
| Pine Bend, MN MN | Magellan Midstream joint | junction or tank farm | 1,501.85 | FERC No. 191.10.0 |
Cost to serve this terminal by pipeline
What it costs to move a gallon here from a supply origin at filed tariff rates: line-haul, the cost of financing the product on the way and in the tank, pipeline loss, and terminaling. It is a cost at filed rates, not a market price: add it to the origin spot price for a delivered cost. The figure shown is the lowest route that starts where product enters the pipeline system; where a second pipeline is needed to reach here, both are costed. Lines marked "estimate" are placeholders until the pipeline or terminal figure is on file; in the routes table, * marks a figure taken from the tariff.
Gasoline: product adder
- ¢/gal · product adder
- 17.27
- ¢/gal · line-haul tariff · published
- 14.64
- ¢/gal · carrying cost · calculated
- 0.50
- ¢/gal · pipeline loss · estimate
- 0.64
- ¢/gal · terminaling · estimate
- 1.50
- days financed
- 9.7
Route used: from Artesia, NM on Magellan Midstream to Belen Station, NM (FERC No. 189.12.0 item 150).
How this adder is worked, line by line
| Line | ¢/gal | Basis | Source or working |
|---|---|---|---|
| Line-haul tariff | 14.637 | published | Magellan Midstream FERC No. 189.12.0 item 150: Artesia, NM (via Holly Energy Partners) → Belen Station, NM, 614.74 ¢/bbl + connecting carrier (joint rate) : → , 0.00 ¢/bbl |
| Carrying cost | 0.499 | calculated | $3.180000/gal × 5.8900% ÷ 365 × 9.716 days (2.216 in transit, 2.50 waiting on the cycle, 5.00 in terminal inventory); transit estimated: 213 pipeline miles at 4.0 mph (general estimate) |
| Pipeline loss | 0.636 | estimate | flat estimate $0.0032/gal, applied 2 times |
| Terminaling | 1.500 | estimate | Flat estimate: no fee on file for this terminal |
| Product adder | 17.271 | Sum of the lines above, over the origin spot price |
Every published route, lowest adder first (5 of 5). Origins are priced at the same index here. "Origin must be cheaper by" is how far below the price at the origin of the route used above a route's own origin price has to be before that route wins.
| Origin | Pipeline | Delivery point | Line-haul | Carrying | Loss | Terminaling | Adder ¢/gal | Days | Origin must be cheaper by | Tariff |
|---|---|---|---|---|---|---|---|---|---|---|
| Artesia, NM (via Holly Energy Partners) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 14.64 | 0.50 | 0.64 | 1.50 | 17.27 | 9.7 | — | FERC No. 189.12.0 item 150 |
| Wynnewood, OK / Ardmore, OK (Valero Partners Wynnewood) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 19.39 | 0.72 | 0.32* | 1.50 | 21.93 | 14.0 | 4.66 | FERC No. 197.9.0 item 300 |
| Baytown, TX (via ExxonMobil Pipeline) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 22.69 | 0.86 | 0.32* | 1.50 | 25.36 | 16.7 | 8.09 | FERC No. 190.11.0 item 100 |
| Port Arthur / Port Neches, TX (via Explorer) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 23.32 | 0.89 | 0.48* | 1.50 | 26.18 | 17.3 | 8.91 | FERC No. 166.35.0 item 300 |
| Pine Bend, MN | Magellan Midstream joint rate | Belen Station, NM only point in the city | 35.76 | 1.00 | 0.48* | 1.50 | 38.74 | 19.5 | 21.46 | FERC No. 191.10.0 item 200 |
Diesel: product adder
- ¢/gal · product adder
- 17.85
- ¢/gal · line-haul tariff · published
- 14.64
- ¢/gal · carrying cost · calculated
- 0.75
- ¢/gal · pipeline loss · estimate
- 0.96
- ¢/gal · terminaling · estimate
- 1.50
- days financed
- 9.7
Route used: from Artesia, NM on Magellan Midstream to Belen Station, NM (FERC No. 189.12.0 item 150).
How this adder is worked, line by line
| Line | ¢/gal | Basis | Source or working |
|---|---|---|---|
| Line-haul tariff | 14.637 | published | Magellan Midstream FERC No. 189.12.0 item 150: Artesia, NM (via Holly Energy Partners) → Belen Station, NM, 614.74 ¢/bbl + connecting carrier (joint rate) : → , 0.00 ¢/bbl |
| Carrying cost | 0.751 | calculated | $4.790000/gal × 5.8900% ÷ 365 × 9.716 days (2.216 in transit, 2.50 waiting on the cycle, 5.00 in terminal inventory); transit estimated: 213 pipeline miles at 4.0 mph (general estimate) |
| Pipeline loss | 0.958 | estimate | flat estimate $0.0048/gal, applied 2 times |
| Terminaling | 1.500 | estimate | Flat estimate: no fee on file for this terminal |
| Product adder | 17.846 | Sum of the lines above, over the origin spot price |
Every published route, lowest adder first (5 of 5). Origins are priced at the same index here. "Origin must be cheaper by" is how far below the price at the origin of the route used above a route's own origin price has to be before that route wins.
| Origin | Pipeline | Delivery point | Line-haul | Carrying | Loss | Terminaling | Adder ¢/gal | Days | Origin must be cheaper by | Tariff |
|---|---|---|---|---|---|---|---|---|---|---|
| Artesia, NM (via Holly Energy Partners) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 14.64 | 0.75 | 0.96 | 1.50 | 17.85 | 9.7 | — | FERC No. 189.12.0 item 150 |
| Wynnewood, OK / Ardmore, OK (Valero Partners Wynnewood) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 19.39 | 1.08 | 0.48* | 1.50 | 22.46 | 14.0 | 4.61 | FERC No. 197.9.0 item 300 |
| Baytown, TX (via ExxonMobil Pipeline) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 22.69 | 1.29 | 0.48* | 1.50 | 25.96 | 16.7 | 8.11 | FERC No. 190.11.0 item 100 |
| Port Arthur / Port Neches, TX (via Explorer) | Magellan Midstream joint rate | Belen Station, NM only point in the city | 23.32 | 1.34 | 0.72* | 1.50 | 26.87 | 17.3 | 9.03 | FERC No. 166.35.0 item 300 |
| Pine Bend, MN | Magellan Midstream joint rate | Belen Station, NM only point in the city | 35.76 | 1.51 | 0.72* | 1.50 | 39.48 | 19.5 | 21.64 | FERC No. 191.10.0 item 200 |
Inputs and assumptions behind these figures
- Product value (for carrying cost and loss only): the prior day's spot price. Gasoline: OilPriceAPI GASOLINE_RBOB_USD, 2026-10-18. Diesel: OilPriceAPI HEATING_OIL_USD, 2026-10-18. These are the New York Harbor futures benchmarks, not a Gulf Coast price.
- Interest rate: SOFR 3.89% (2026-10-15) + 2.0 points.
- Transit (estimate): straight-line miles between the tariff origin and delivery point × 1.15, at 4.0 mph unless the pipeline has its own figure.
- Days financed (estimate): transit, plus half a 5-day shipping cycle waiting to lift (once for each pipeline on a two-pipeline route), plus 5 days of stock at the terminal.
- Pipeline loss: the charge or volume deduction the tariff states, where it states one (marked *; a deduction is costed at the product value above). Otherwise an estimate of 0.10% of product value per pipeline, two for a joint rate; that includes pipelines that share out actual losses without publishing a figure, and tariffs that state no loss term.
- Terminaling: the carrier's terminal charge where its tariff states one (marked *), otherwise a flat 1.5¢/gal estimate.
- Which route sets the figure: the lowest one that starts at a supply origin. On Colonial that is Houston. A rate that starts part-way along a pipeline, or at a secondary origin, stays in the table but does not set the figure. Where a rate starts at a point another carrier delivers to, the first carrier's lowest rate into that point is added, with its loss and time in the pipe; terminaling is charged once. The same is done where one pipeline files the movement as two rates. Which origins are treated this way is our own review of each system, not a statement in a tariff.
- Rates used: each pipeline's ordinary filed rate. Committed, volume-tier, discount and bid rates are left out, as are conditional fees (shown on each pipeline page), additives, taxes and the value of line space.
- Assumption set in force from 2026-10-01; review by 2027-01-01.
Stored snapshots of the product adder
Kept weekly, and whenever a tariff, terminal link, loss term or assumption changes. "What moved" compares each snapshot with the one before it.
| Snapshot | Product | Route | Adder ¢/gal | What moved |
|---|---|---|---|---|
| 2026-10-14 | Diesel | Artesia, NM · Magellan Midstream | 17.90 | pipeline loss +0.05¢; carrying cost +0.04¢ |
| 2026-10-14 | Gasoline | Artesia, NM · Magellan Midstream | 17.29 | pipeline loss −0.00¢; carrying cost −0.00¢ |
| 2026-10-11 | Diesel | Artesia, NM · Magellan Midstream | 17.80 | pipeline loss −0.02¢; carrying cost −0.02¢ |
| 2026-10-11 | Gasoline | Artesia, NM · Magellan Midstream | 17.30 | carrying cost −0.00¢; pipeline loss −0.00¢ |
| 2026-10-09 | Diesel | Artesia, NM · Magellan Midstream | 17.85 | first snapshot |
| 2026-10-09 | Gasoline | Artesia, NM · Magellan Midstream | 17.31 | first snapshot |
Terminals within 100 miles
| Terminal | City | Miles | Products (inferred from supply) |
|---|---|---|---|
| Phillips 66 Pipeline - Albuquerque T-85-NM-4254 | Albuquerque, NM | 24.3 | gasoline distillate jet fuel |
| Aircraft Service International Group T-85-NM-4261 | Alburquerque, NM | 27.8 | jet fuel |
| Western Refining Terminals T-85-NM-4255 | Albuquerque, NM | 28.1 | gasoline distillate |
| ABQ Terminal LLC T-85-NM-4251 | Albuquerque, NM | 28.1 | gasoline distillate |
| Holly Energy Partners - Operating L.P. T-86-NM-4262 | Moriarty, NM | 48.4 | gasoline distillate jet fuel propane |
| Moriarty Terminal T-86-NM-4265 | Moriarty, NM | 49.3 | gasoline distillate |
Rates are pipeline line-haul transcribed from published FERC tariffs; every figure cites its tariff and item. Cost to serve (netback) adds origin spot price and destination fees. "Confirmed" links match a tariff delivery point to the facility; "same city" means the point is in the facility's city — plausible, not proof; "per research" means the facility's research profile names the pipeline as an outlet.