Bloomberg News

N.Y. Gasoline Strengthens on Lowest East Coast Imports on Record

October 05, 2011

Oct. 5 (Bloomberg) -- Gasoline in New York Harbor strengthened after a government report showed imports of the fuel to the East Coast dropped to the lowest level on record.

Imports of gasoline to the region fell 124,000 barrels to 397,000 barrels a day last week, according to the Energy Department. It’s the lowest level since at least 2004, when the department began showing regional data.

“Since 2004 refinery gasoline production has increased, the use of ethanol has increased, while gasoline demand” has slowed, said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

The premium for conventional gasoline to be blended with ethanol, or CBOB, in New York Harbor gained 2 cents to 11.25 cents versus futures traded on the New York Mercantile Exchange at 12:05 p.m., according to data compiled by Bloomberg. Prompt delivery rose 8.11 cents to $2.662 a gallon.

PBF Energy Partners LP hasn’t secured a hydrogen cyanide and carbon sulfide release at its Delaware City, Delaware, refinery after a pipe broke in a boiler used with a catalytic cracker, according to a filing with the National Response Center.

Michael Gayda, PBF’s president, said in a telephone interview there is no timetable for repairs.

--With assistance from Justin Doom in New York. Editors: David Marino, Richard Stubbe

-0- Oct/05/2011 17:23 GMT

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net -0- Oct/05/2011 17:07 GMT


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