Bloomberg News

Gulf Coast Gasoline Weakens as Valero Refinery Starts Units

August 06, 2012

Gulf Coast gasoline weakened as Valero Energy Corp. started units at its Meraux refinery southeast of New Orleans.

The crude unit at the 135,000-barrel-a-day plant, shut after a fire July 22, is expected to be back by the end of the month, Bill Day, a Valero spokesman based in San Antonio, said in an e-mail.

The discount for conventional, 87-octane gasoline in the Gulf Coast widened 3.75 cents to 7.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 12:01 p.m., data compiled by Bloomberg showed. Prompt delivery fell 4.06 cents to $2.8476 a gallon.

The same fuel in New York Harbor strengthened 2.5 cents to a premium of 3.88 cents a gallon, the highest level since Dec. 8.

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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