Bloomberg News

New York Gasoline Weaken as Imports Increase to U.S. East Coast

May 16, 2012

New York gasoline weakened after a government report showed imports of the fuel to the East Coast increased last week.

Shipments of the motor fuel to the region rose 18 percent to 630,000 barrels a day in the seven days ended May 11, according to the Energy Department. Sunoco Inc. (SUN:US) was said to be restarting a Philadelphia crude unit yesterday that has been shut since a fire May 9.

Conventional gasoline to be blended with ethanol, or CBOB, in New York Harbor slipped 1 cent to a 0.5 cent a gallon discount versus futures traded on the New York Mercantile Exchange at 2:58 p.m., according to data compiled by Bloomberg. Prompt delivery fell 3.32 cents to $2.9159 a gallon.

Sunoco workers repaired a hole and began returning the crude unit to service, said a person familiar with the operations yesterday who declined to be identified because he’s not authorized to speak for the refinery.

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.

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net

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


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