Bloomberg News

Midwest Gasoline Weakens as Marathon Crude Unit Back to Service

November 01, 2011

Nov. 1 (Bloomberg) -- Gasoline in the Midwest weakened after Marathon Petroleum Corp. returned a crude unit and an associated vacuum tower to service at its Catlettsburg refinery in Kentucky after planned work.

An alkylation unit remains shut for work, Shane Pochard, a company spokesman, said in a telephone interview.

The premium for conventional, 87-octane gasoline in the Midwest, or Group 3, fell 0.25 cent to 4.75 cents versus futures traded on the New York Mercantile Exchange at 2:37 p.m., according to data compiled by Bloomberg. Prompt delivery fell 2.04 cents to $2.6725 a gallon.

The same fuel in Chicago narrowed 0.5 cent to a discount versus futures of 1.13 cents a gallon.

Colonial Pipeline Co. allocated shipments of gasoline and diesel on Lines 1 and 2, respectively, north of Collins, Mississippi, for Cycle 62, according to bulletins to shippers yesterday. The largest pipeline links the refining center to U.S. East Coast markets.

Regular gasoline in New York Harbor rose 3 cents to a premium of 7.25 cents a gallon versus December futures. Prompt delivery slipped 3.73 cents to $2.6481 a gallon.

--With assistance from Aaron Clark in New York. Editors: Richard Stubbe, Charlotte Porter

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.


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