Bloomberg News

Gulf Coast Gasoline Falls as Valero Starts Memphis Unit

April 13, 2012

Gulf Coast gasoline fell against futures after Valero Energy Corp. (VLO:US) and Exxon Mobil Corp. (XOM:US) restarted refinery units and Motiva Enterprises LLC was said to be starting a new crude unit.

Valero’s Memphis, Tennessee, refinery restarted its West crude unit yesterday, said Bill Day, a spokesman based at company headquarters in San Antonio. The unit can process 80,000 barrels a day for the 195,000-barrel-a-day refinery, Day said this month.

Exxon Mobil finished maintenance at the Baytown refinery in Texas and restarted units, Patricia Errico, a company spokeswoman in Irving, Texas, said today in an e-mailed statement.

Motiva plans to start a new 330,000-barrel-a-day crude unit and coker at its Port Arthur, Texas, refinery by the end of the month, according to two people with knowledge of operations.

The discount for conventional, 87-octane gasoline in the Gulf Coast widened 1.5 cents to 14.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 3:58 p.m., according to data compiled by Bloomberg. The prompt-delivery price fell 2.56 cents to $3.2011 a gallon.

The discount for conventional gasoline to be blended with ethanol, or CBOB, in New York Harbor widened 2.25 cents to 4 cents a gallon.

To contact the reporters on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net; 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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Companies Mentioned

  • VLO
    (Valero Energy Corp)
    • $49.28 USD
    • 0.11
    • 0.22%
  • XOM
    (Exxon Mobil Corp)
    • $103.55 USD
    • 0.72
    • 0.7%
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