Bloomberg News

California Gasoline Falls After Report Refinery Input Increased

October 20, 2011

Oct. 20 (Bloomberg) -- California-blend gasoline in Los Angeles fell for a fourth straight day after the state reported an increase in throughput at refineries last week.

The premium for California-blend gasoline, or Carbob, in Los Angeles fell 4.88 cents to 17 cents a gallon above gasoline futures traded on the New York Mercantile Exchange at 3:57 p.m. East Coast time, according to data compiled by Bloomberg. That’s the lowest premium for the fuel since Sept 21.

California’s Energy Department said yesterday that crude oil input at state refineries rose 2.2 percent to 11.2 million barrels in the week ended Oct. 14.

“The outlook for California gasoline is very bearish,” said Bob Van Der Valk, an independent fuel pricing analyst in Terry, Montana. Increased oil supplies from Libya and Canada will probably keep pressure on prices, he said.

San Francisco Carbob slipped 1.88 cents to a premium of 14 cents over gasoline futures.

The premium for conventional, 87-octane gasoline in Portland, Oregon, rose 3.88 cents to 29.88 cents versus futures.

--Editor: 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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