New York gasoline weakened after Sunoco Inc. (SUN:US) was said to be restarting a Philadelphia crude unit shut since a fire May 9.
The plant repaired a hole and began returning the unit to service yesterday, said a person familiar with the operations who declined to be identified because he’s not authorized to speak for the refinery.
The differential for unleaded, 87-octane gasoline in New York Harbor widened 2.25 cents to a discount of 4.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 1:50 p.m., according to data compiled by Bloomberg. Prompt delivery dropped 4.73 cents to $2.8892 a gallon.
Reformulated 87-octane gasoline, or RBOB, in the Gulf Coast dropped 2.75 cents a gallon to a discount of 1.5 cents versus futures.
Crude unit 137 at the Philadelphia plant can process 200,000 barrels a day, according to Genscape Inc., an energy information provider based in Louisville, Kentucky.
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