Bloomberg News

California Gasoline Falls on Report That U.S. Fuel Use Declined

October 19, 2011

Oct. 19 (Bloomberg) -- California-blend gasoline in Los Angeles fell to the lowest level in more than two weeks after the Energy Department reported that U.S. fuel consumption declined last week.

The premium for California-blend gasoline, or Carbob, in Los Angeles fell 6.62 cents to 21.88 cents a gallon above gasoline futures traded on the New York Mercantile Exchange at 4:17 p.m. East Coast time, according to data compiled by Bloomberg. That’s the lowest premium for the fuel since Oct. 3.

Overall U.S. fuel use declined 2.2 percent to 18.3 million barrels a day last week, the department said today. Consumption hit the lowest level since May in the second-straight weekly decline, according to government data.

San Francisco Carbob slipped 6.62 cents to a premium of 15.88 cents over gasoline futures.

The premium for conventional, 87-octane gasoline in Portland, Oregon, fell 12 cents to 26 cents versus futures.

--With assistance from Lynn Doan in San Francisco. Editor: Charlotte Porter, Richard Stubbe

To contact the reporter on this story: Gene Laverty in Calgary at glaverty@bloomberg.net

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


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