Bloomberg News

Gulf Gasoline Strengthens to One-Year High After N.Y. Hub Gains

June 26, 2012

U.S. Gulf Coast gasoline strengthened to the highest level in a year after New York prices rose as refineries shut equipment.

Fuel made to East Coast specifications gained in the Gulf for a second day. Prices in New York Harbor have climbed for five of the past six days after Sunoco Inc.’s Philadelphia refinery closed a vacuum tower for work June 20, according to a regulatory notice.

The premium for reformulated, 87-octane gasoline, or RBOB, in the Gulf Coast rose 2.5 cents to 11 cents a gallon versus futures traded on the New York Mercantile Exchange at 2:24 p.m., according to data compiled by Bloomberg. It was the highest level since May 12, 2011. Prompt delivery fell 10.61 cents to $2.6247 a gallon.

LyondellBasell Industries (LYB:US) NV’s Houston Refining reported a leak at a plant in Houston from a tower at the 940 unit, according to a filing with state regulators. The line was blocked and the leak was stopped, the filing shows.

Refineries including Hovensa LLC’s St. Croix refinery in the U.S. Virgin Islands and the Trainer plant in Pennsylvania, now owned by a subsidiary of Delta Air Lines Inc., both shut before the start of the peak summer U.S. demand season.

The premium for RBOB in New York Harbor advanced 0.25 cent to 20.25 cents a gallon. The fuel reached its highest level since September on June 22.

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.


Later, Baby
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • LYB
    (LyondellBasell Industries NV)
    • $92.11 USD
    • 0.65
    • 0.71%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus