Bloomberg News

Los Angeles Gasoline Tumbles as BP Carson Said to Finish Repairs

February 27, 2012

California-blend gasoline in San Francisco and Los Angeles weakened against futures after BP Plc (BP/) was said to finish repairs on the hydrocracker at the Carson oil refinery in Southern California.

London-based BP finished repairing a leaking flange associated with the hydrocracker at the 266,000-barrel-a-day Carson (BPCRCRUD) plant, California’s second-largest refinery, a person with direct knowledge of the work said today. The gasoline- making unit should be back to normal production within a few days, the person said.

Carbob in Los Angeles (MOGLDB85) dropped 8 cents to a premium of 33.5 cents a gallon against futures traded on the New York Mercantile Exchange at 5:16 p.m. East Coast time, according to data compiled by Bloomberg. The same fuel in San Francisco (MOGSD85P) tumbled 10.5 cents to 28 cents above futures.

Los Angeles Carbob rose 10.5 cents on Feb. 23 and Feb. 24 after BP was said to discover the leak at the Carson refinery. Scott Dean, a BP spokesman in Warrenville, Illinois, declined to comment on operations at the plant.

Conventional, 87-octane gasoline in Portland (MOGHD87P), Oregon, weakened 3.5 cents to a premium of 19.5 cents against gasoline futures.

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


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