"meets or exceeds spec." though old, and tried, implies a "value" and to me doesn't belong in a description of Fuel. One wonders how the FP is "exceeded? What mechanism? Lights? Melamine?
The composition of crude oil varies considerably by region and even batch.
There are several methods of refining crude oil into desired base products and removing much, but not all, of the undesirable compounds. Additives enhance the refined base products to ensure they will perform to established specifications.
There are dozens of specifications for each product -- some are maximum limits, some are minimum limits, and some are range limits. The resultant finished products meet or exceed specs, yet still vary by region, batch, process and additives.