Bloomberg News

New York Gasoline Weakens After Imports Surge to 5-Month High

November 23, 2011

Nov. 23 (Bloomberg) -- New York gasoline weakened after the government reported imports of the fuel to the region increased climbed to a five-month high.

Total gasoline imports to the East Coast rose 261,000 barrels a day to 928,000 for the week ending Nov. 18, according to the Energy Department. It’s the highest level since June 10.

The premium for conventional, 87-octane gasoline in New York Harbor slipped 0.25 cent to 3.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:32 p.m., according to data compiled by Bloomberg. Prompt delivery fell 6.22 cents to $2.5371 a gallon.

Marathon Petroleum Corp. returned an alkylation unit to service after a turnaround at the Catlettsburg refinery in Kentucky, according to Robert Calmus, a spokesman for the company.

Conventional, 87-octane gasoline in the Midwest, or Group 3, was unchanged at a discount to futures of 3.75 cents a gallon. Prompt delivery fell 5.97 cents to $2.4646 a gallon.

Regular fuel in the Gulf Coast narrowed its discount to futures 0.5 cent to 5.5 cents.

--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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