Bloomberg News

California Gasoline Falls for Second Day on Refinery Unit Start

September 30, 2011

Sept. 30 (Bloomberg) -- California-blend gasoline weakened for a second straight day after ConocoPhillips started a unit at its Rodeo refinery in northern California and the state said gasoline demand fell 3.6 percent in the second quarter.

The premium for Carbob in San Francisco fell 2 cents to 19.75 cents a gallon above gasoline futures traded on the New York Mercantile Exchange at 4:19 p.m. East Coast time, according to data compiled by Bloomberg. Prompt delivery fell 4.05 cents to $2.7356 a gallon.

Gasoline consumption fell to 3.66 billion gallons in the second quarter from 3.8 billion in the same period a year earlier, the state Board of Equalization said in an e-mailed statement. ConocoPhillips started a unit yesterday at its 128,000-barrel-a-day Rodeo refinery north of San Francisco, according to a filing with state regulators.

Rich Johnson, a spokesman for the Houston-based company, declined to comment on the notice, saying Conoco doesn’t speak on “day-to-day refinery operations.”

Carbob in Los Angeles weakened 1.63 cents to a premium of 18.25 cents over futures. California-blend diesel in Los Angeles was unchanged at a premium of 12.25 cents above heating oil futures traded on the Nymex.

The premium for conventional, 87-octane gasoline in Portland, Oregon, was also unchanged at 26 cents over gasoline futures.

Work on the residual oil supercritical extraction unit, or ROSE unit, at Tesoro Corp.’s Anacortes refinery in Washington is still under way, Mike Marcy, a spokesman for the San Antonio- based company, said in an e-mail. The maintenance was originally scheduled to be completed by today.

--With assistance from Aaron Clark in New York. Editors: David Marino, Richard Stubbe

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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