Bloomberg News

Gulf Coast Gasoline Weakens After BP Starts Catalytic Cracker

May 22, 2012

Gulf Coast gasoline weakened after BP Plc (BP:US) started a fluid catalytic cracker at the Texas City refinery in Texas.

The 475,000-barrel-a-day plant also started an alkylation unit that was shut, according to a person familiar with operations at the plant.

The discount for regular, 87-octane gasoline in the Gulf Coast weakened 1 cent to 21.5 cents versus futures traded on the New York Mercantile Exchange at 1:15 p.m., according to data compiled by Bloomberg. It’s the lowest level since March 7. Prompt delivery fell 2.01 cents to $2.715 a gallon.

Colonial Pipeline Co., the largest pipeline linking Gulf Coast refiners with Northeast markets, issued an allocation notice for gasoline on Line 1 for Cycle 31, according to a bulletin sent to shippers.

The premium for reformulated, 87-octane gasoline, or RBOB, in New York Harbor rose 0.25 cent to 5.75 cents a gallon versus futures.

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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Companies Mentioned

  • BP
    (BP PLC)
    • $43.68 USD
    • -0.27
    • -0.62%
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