Spot gasoline in California gained against futures for the first time in three days as the prompt- delivery contract rolled into October and refineries prepared to shut units for maintenance.
Phillips 66 (PSX:US)’s 139,000-barrel-a-day Los Angeles refinery plans to shut the hydrocracker around Oct. 5 for about six weeks of work, a person with direct knowledge of the schedule said Sept. 6.
The Houston-based company’s 76,000-barrel-a-day Rodeo refinery was also expected to perform maintenance on a hydrocracker this month, a delay from August, a person familiar with operations at the plant said Aug. 9.
California-blend gasoline in Los Angeles, now trading for October delivery against November gasoline futures on the New York Mercantile Exchange, gained 1.5 cents to a premium of 36 cents a gallon at 1:51 p.m. East Coast time, data compiled by Bloomberg show. The same fuel in San Francisco rose 2 cents to 42.5 cents a gallon above futures.
California-blend, or CARB, diesel in Los Angeles increased 1 cent to 12 cents a gallon above heating oil futures on the Nymex. The fuel in San Francisco dropped 1.5 cents to 6 cents a gallon over futures.
Phillips 66’s Los Angeles refinery is starting units after a Sept. 15 power failure and expected to have all equipment online by the end of the week, Rich Johnson, a spokesman at the company’s headquarters in Houston, said by e-mail yesterday.
Regular, 87-octane gasoline in Portland, Oregon, a benchmark for the U.S. Northwest, rose for the fifth straight day, increasing 3.5 cents to a premium of 28.5 cents a gallon above gasoline futures. That’s the highest level for the fuel since Sept. 5.
BP Plc (BP/)’s 234,000-barrel-a-day Cherry Point refinery in Washington state reported a process unit upset yesterday, a notice to the Northwest Clean Air Agency showed. The plant was operating normally today, according to a person familiar with operations there.
Low-sulfur diesel in Portland dropped 4.5 cents to 5 cents a gallon above Nymex heating oil futures.
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