Dec. 15 (Bloomberg) -- Gasoline in the Gulf Coast rose to the highest level in more than a month on speculation of greater demand for the motor fuel during the holiday season.
“Holiday demand is always a bit higher and maybe in anticipation of some January maintenance” prices for gasoline have increased, Andy Lipow, president of Lipow Oil Associates LLC in Houston, said in a telephone interview.
The discount for conventional, 87-octane gasoline in the Gulf Coast narrowed 1.38 cents to 4.25 cents versus futures traded on the New York Mercantile Exchange at 4:01 p.m., according to data compiled by Bloomberg. It is the highest level since Nov. 9. Prompt delivery slipped 0.23 cent to $2.4452 a gallon.
--Editors: Charlotte Porter, Margot Habiby
To contact the reporter on this story: Paul Burkhardt in New York at firstname.lastname@example.org.
To contact the editor responsible for this story: Dan Stets at email@example.com.