Bloomberg News

California Gasoline Slips From Seven-Week High on Inventories

December 29, 2011

Dec. 29 (Bloomberg) -- California-blend gasoline in Los Angeles declined from the highest level in more than seven weeks after state regulators reported a jump in motor fuel stockpiles.

Carbob in Los Angeles slipped 4 cents to a premium of 23.5 cents a gallon versus gasoline futures on the New York Mercantile Exchange at 4:07 p.m. New York time, according to data compiled by Bloomberg. The difference rose to 27.5 cents yesterday, the widest since Nov. 4.

Refinery stocks of California motor gasoline rose 9.2 percent to 5.68 million barrels in the week ended Dec. 23, the state Energy Commission said yesterday. Production rose 1.4 percent to 6.07 million barrels.

Carbob in San Francisco fell 4 cents to a premium of 20 cents versus futures. Conventional, 87-octane gasoline in Portland, Oregon, was unchanged at a premium of 3.88 cents to futures.

Stocks of California diesel fuel fell 1.9 percent to 2.5 million barrels, according to the commission. The premium for the fuel in Los Angeles over Nymex heating oil futures narrowed 1.25 cents to 3.25 cents.

--Editors: 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: Bill Banker at bbanker@bloomberg.net


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