Bloomberg News

Los Angeles Gasoline Gains as BP Starts Work at Carson Refinery

March 12, 2012

California-blend gasoline in Los Angeles rose after BP Plc (BP/) said it would flare gases at its Carson refinery through March 26, signaling the start of work on units at the plant.

BP will shut a coker, a crude unit and an alkylation unit at the Carson refinery for routine work, two people familiar with the plans said in interviews on Jan. 3. The maintenance is expected to last as long as four weeks, one person said.

Carbob in Los Angeles (MOGLDB85) gained 0.5 cent to a premium of 16 cents a gallon against gasoline futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg. The same fuel in San Francisco (MOGSD85P) increased 0.5 cent to a 13-cent premium against futures.

The 266,000-barrel-a-day Carson refinery supplies a fifth of Southern California’s gasoline and half of Los Angeles International Airport’s jet fuel, according to London-based BP’s website.

Jet fuel in Los Angeles rose 0.38 cent to a premium of 15.13 cents against Nymex heating oil futures.

California-blend diesel, or CARB diesel, in Los Angeles (DIEILCAD) slipped 0.75 cent to an 18.75-cent premium against Nymex heating oil futures. The same fuel in San Francisco (DIEISCAD) strengthened 0.25 cent to a premium of 15.5 cents versus heating oil futures.

Conventional, 87-octane gasoline in Portland (MOGHD87P), Oregon, was unchanged at a discount of 2 cents a gallon against gasoline futures.

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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