Bloomberg News

Los Angeles Gasoline Rises After Alon’s Paramount Said to Shut

January 26, 2012

Jan. 26 (Bloomberg) -- California-blend gasoline in Los Angeles climbed after Alon USA Energy Inc. was to said to shut the Paramount refinery for work that may last a month and as Valero Energy Corp.’s Wilmington refinery performed maintenance.

Carbob in Los Angeles rose 0.5 cent to a premium of 10.5 cents a gallon against gasoline futures traded on the New York Mercantile Exchange at 4:39 p.m. East Coast time, according to data compiled by Bloomberg. Prompt-delivery of the fuel rose 1.84 cents to $2.9558 a gallon.

Alon shut the 55,000-barrel-a-day Paramount oil refinery in Southern California for planned work that may last for a month, according to two people familiar with the maintenance. The Dallas-based company closed the plant in coordination with an outage at the Bakersfield refinery in Central California, one person said today.

Valero is also conducting a four-week maintenance turnaround on units at the 135,000-barrel-a-day Wilmington oil refinery in Southern California.

Carbob in San Francisco dropped 3.5 cents to a premium of 0.5 cent against futures, the lowest level in eight days.

Motor gasoline supplies on the U.S. West Coast, known as the Padd 5 region, rose to the highest level in almost nine months last week, by 2.7 percent to 32.3 million barrels, the Energy Department said yesterday.

California gasoline inventories rose for the fourth straight week, by 3.8 percent to 7.1 million barrels, the highest since Aug. 12, the state Energy Commission said.

Distillate stocks slipped from a 25-week high, dropping 4.5 percent to 4.4 million barrels, the state said.

California-blend diesel in Los Angeles rose 0.25 cent to a premium of 2 cents against Nymex heating oil futures. The same fuel in San Francisco was unchanged at a discount of 1 cent.

Conventional, 87-octane gasoline in Portland, Oregon, fell 2.5 cents to a discount of 8 cents to futures, the lowest level since Aug. 3.

--Editors: Richard Stubbe, Charlotte Porter

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus