Bloomberg News

Los Angeles Diesel Falls for Second Day as Phillips Starts Unit

November 21, 2012

Spot diesel in Los Angeles strengthened for a second day as Phillips 66 was said to be starting a hydrocracker at its Los Angeles-area refinery after finishing planned maintenance.

The 139,000-barrel-a-day plant will take about a week to return the unit to normal operations, a person familiar with the work said today. The hydrocracker was scheduled to be shut about Oct. 16 for a turnaround, two people with knowledge of the plans said last month.

California-grade, or CARB, diesel in Los Angeles fell 0.75 cent to a 3.25-cent-a-gallon premium over heating oil futures traded on the New York Mercantile Exchange at 1:36 p.m. Eastern time, according to data compiled by Bloomberg. The same fuel in San Francisco declined 4.5 cents to a discount of 2 cents.

California-blend gasoline, or Carbob, in Los Angeles climbed 2.5 cents to a premium of 12.5 cents a gallon over gasoline futures traded on the Nymex. Carbob in San Francisco fell 3 cents to a 3-cent discount.

Conventional 84 sub-octane gasoline to be blended with ethanol in Portland, Oregon, dropped 1 cent to a discount of 20 cents a gallon to gasoline futures. Low-sulfur diesel in Portland was unchanged at 6.5 cents over heating oil futures.

To contact the reporter on this story: Joshua Falk in New York at jfalk19@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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