Bloomberg News

Gulf Coast Gasoline Gains as Marathon Shuts Equipment for Work

January 04, 2012

Jan. 4 (Bloomberg) -- Gulf Coast gasoline rose as Marathon Petroleum Corp. shut a platformer and other equipment for maintenance at the Texas City refinery in Texas.

Marathon planned to close the unit that produces high- octane blending stock for gasoline and a Udex unit today, according to a filing with the Texas Commission on Environmental Quality. The work is scheduled to last three days, the filing showed.

The discount for conventional, 87-octane gasoline in the Gulf Coast narrowed 0.32 cent to 5.13 cents a gallon versus futures traded on the New York Mercantile Exchange at 1:58 p.m., according to data compiled by Bloomberg. Prompt delivery rose 3.13 cents to $2.7254 a gallon.

The premium at the same hub for 93-octane gasoline rose 1.88 cents to 12.88 cents versus futures.

Marathon’s Texas City refinery can process 81,500 barrels of crude a day.

--Editors: Charlotte Porter, Margot Habiby

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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