Bloomberg News

Gulf Coast, N.Y. Gasoline Drops on Expectation of Inventory Gain

June 12, 2012

Gasoline in the U.S. Gulf Coast and New York fell as analysts expect an increase of inventories of the motor fuel.

Total gasoline stocks in the U.S. may rise 1.4 million barrels to 204.9 million, according to the median of 12 analysts polled in a Bloomberg survey. It would be the second increase in 17 weeks, based on Energy Department data.

The premium for reformulated gasoline in the Gulf Coast fell 1 cent to 5.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 11:56 a.m., according to data compiled by Bloomberg. Prompt delivery dropped 1.5 cents to $2.7041 a gallon.

Motiva Enterprises LLC’s Port Arthur refinery in Texas is assessing repairs to its new 325,000-barrel-a-day crude unit, a person with knowledge of operations said yesterday. A startup was abandoned over the weekend after the crude unit developed leaks, cracks in pipes, and a fire in a heater, according to the person.

Delek U.S. Holdings Inc. reported a mechanical malfunction in the sulfur recovery unit at its Tyler, Texas, refinery, according to a filing with state regulators yesterday.

The differential for the same fuel in New York Harbor decreased 0.25 cent to 9.63 cents a gallon.

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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